ARI | 1-30-25 AM: Elder Financial Abuse

January 30, 2025

Today’s Story

Recent reports highlight a troubling increase in financial exploitation targeting the elderly. In one case, a 100-year-old woman was swindled out of $100,000 by her son and his wife, who coerced her into providing funds under threats and manipulation. This incident underscores the vulnerability of seniors to financial abuse, often perpetrated by trusted individuals. 

The FBI has noted a double-digit increase in financial fraud involving older adults, prompting efforts to raise public awareness and encourage protective measures. It's crucial for retirees and their families to remain vigilant, establish safeguards, and seek legal advice to prevent such exploitation.

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Fun Fact

According to the National Council on Aging, financial scams targeting seniors are considered the "crime of the 21st century," with estimates of annual losses ranging from $2.9 billion to $36.5 billion.