15 Mar How to Spot Early Warning Signs of Elder Financial Abuse
At least 10 percent of America’s elderly residents are abused in various ways each year, with elder financial abuse being the most common problem, according to a recent study in the New England Journal of Medicine. Financial abuse can take many forms, ranging from investment scams, bogus lottery schemes and stolen jewelry to identity theft, credit card misuse and forged checks. Sadly, most perpetrators of financial abuse aren’t strangers.
The National Center on Elder Abuse reports that 90 percent of the perpetrators are family members or people the victims know well, such as neighbors, friends or caregivers. To help you or someone you know guard against financial exploitation, it’s important to know the warning signs — and what to do if you spot them.
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