The elderly population in the U.S has been on a steady incline for the past few decades. With more seniors living longer new challenges arise. Unfortunately, many seniors become vulnerable to different types of abuse, neglect, and exploitation as they age. The National Council on Aging estimates that financial fraud and abuse against seniors costs older Americans up to $36.5 billion each year.
The perpetrators of financial abuse can be anyone, such as family members, paid caregivers, or strangers who hack into systems and steal vital financial data. You must be well informed about financial fraud to know what to do about it and keep the seniors in your life safe.
Vulnerability and financial fraud
Financial exploitation can leave any target, such as businesses and individuals, with significant losses. However, when you combine this general risk with some of the cognitive deficits common to the elderly population, the result can…
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Posted by: Devin Morrissey |
The post How to prevent elder abuse and financial fraud appeared first on Cybersecurity Insiders.
July 23, 2019 at 09:09PM
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