According to the FTC, nearly 25 million Americans are victims of consumer fraud each year. Seniors continue to be a rapidly increasing segment of the population targeted by con artists. In fact, financial scams targeting seniors have become so prevalent that they are now considered to be “the crime of the 21st century.” And this crime against seniors is not always one that is perpetrated by strangers. Over 90% of all reported abuse of seniors is committed by someone in their own family. Shockingly, financial abuse such as depleting joint checking accounts, promising but not delivering care in exchange for money or property, and even outright theft is most often committed by the senior’s own adult children, followed by grandchildren, nieces, nephews, and others. And it’s not just wealthy seniors who are at risk. Low income older adults are commonly targeted as well.
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