According to The MetLife Mature Market Institute, approximately five million aging or elderly adults are prey to financial fraud. MetLife’s Investor Protection Elder Fraud Survey found that one out of every five elderly individuals survyed had been victimized: Financial experts believe that the number of victims is on the rise and that for every one case brought to the attention of authorities, 25 cases never get reported. Victims often do not know where to turn after experiencing financial fraud, or are too embarrassed or frightened to report the fraud.<\/p>\n
The National Center on Elder Abuse states that the majority of incidences of financial fraud are committed by someone they know such as a family member, a neighbor or a caregiver. There are also numerous reports of financial professionals, hired by the victim to manage financial affairs, who defraud the elderly. Fraud may take place as a crime of opportunity, or as part (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" According to The MetLife Mature Market Institute, approximately five million aging or elderly adults are prey to financial fraud. MetLife’s Investor Protection Elder Fraud Survey found that one out of every five elderly individuals survyed had been victimized: Financial experts…<\/span><\/p>\n