As the number of financial and elder abuse cases continues to rise, it is crucial for seniors and their families to be vigilant and proactive in protecting themselves from scams and exploitation. In 2021, there were 92,371 older victims of fraud resulting in $1.7 billion in losses. It is unfortunate that law enforcement often faces limitations in addressing these scams. This is primarily due to complexity and the difficulty in tracing funds once they are deposited into unverified accounts. Prevention and awareness remain key in safeguarding against financial exploitation and scams. To learn more about understanding elderly abuse, read our feature story, “Recognizing Elder Abuse and Fulfilling Fiduciary Duties”, which is liked here or can be found in the navigation menu on page 1.. It is important to note that scammers often target those who are less tech-savvy. If something seems suspicious, do not hesitate to speak up and seek assistance. By staying informed, proactive, and enlisting the help of trusted professionals, seniors can better protect themselves from exploitation and financial abuse. Remember, prevention is always better than cure when it comes to safeguarding your assets and well-being.
May 9, 2024
