Identification and Detection of Elder Financial Exploitation Synopsis
Although elder abuse often goes unnoticed, the rate at which elder fraud is growing annually is alarming. Every day, elders can find themselves deceived and exploited. Seniors, especially those ages 70 and up, are having the most money stolen via various tactics. In the United States, money stolen from the elderly has been recorded to range up to $6 billion.
Different types of fraud, such as stranger vs caregiver, make resolving elderly exploitation cases very difficult. It becomes considerably tricky to identify these cases due to many fixed factors.
Download the white paper to find out how financial institutions can detect these scams and to know when, and how, to escalate and consider reporting to additional agencies.