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Ways to Prevent Elder Financial Fraud

| March 02, 2023

If you’re like most people, you don’t spend much time worrying about whether you’ll become a victim of financial fraud.  Unfortunately, this overconfidence can leave you vulnerable.

While financial fraud is a problem that affects people of all ages, it’s no secret that older Americans are more vulnerable and are disproportionately targeted by scammers. The first step in prevention is recognizing that elder fraud is a highly pervasive issue, and the frequency with which it occurs in the United States is staggering. It’s also important to understand the financial, physical, and emotional toll it takes on individual victims.

You also need to recognize the various other forms of elder abuse (physical abuse, emotional abuse, neglect, abandonment, etc.). Sadly, an estimated 5 million elders are abused each year. Sadder still, one study estimates that only one in 24cases of abuse are reported to authorities. So we’d like to share this informative guide, “The Power of Due Diligence – Your Field Guide to Preventing Elder Financial Fraud.”

While this guide focuses on elder fraud, the information provided is helpful to everyone, since no one is immune to fraud. This guide will help you identify common scams and arm you with the knowledge to potentially stop fraud in its tracks. It will also help you understand the warning signs to keep the elders in your family safe.

If you have concerns or questions about financial protection for yourself or your elders, don’t hesitate to give our office a call. We’re here to help.