On the Rise: Financial Abuse of Older Adults

Seniors are often targeted for financial abuse. Con artists think older adults are more trusting and naïve, making them more likely to fall for a scam. Perceived loneliness can also play a role in targeting seniors. Whatever the reason, experts say this trend is likely to continue growing.With an average of 10,000 older adults turning 65 every day, seniors are an expanding demographic group. It’s also a group with significant assets. The American Bankers Association says people over the age of 50 own 61 percent of bank accounts and 70 percent of bank deposits. Read more here >>>

thumbnail courtesy of sunriseseniorliving.com

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