More than 334,000 incidents of elder financial exploitation — the theft or misuse of an older person’s money by someone they know — are reported to authorities in the U.S. each year, causing an estimated $6.3 billion in losses, according to an analysis of federal and state data by Comparitech, a cybersecurity research company.
And those numbers probably underestimate a problem experts say is vastly under-reported.
But experts also say that in most cases, financial abuse can be prevented before it starts. To learn about steps from AARP that you can take to help protect yourself or a vulnerable loved one from financial exploitation, CLICK HERE.
