Elder abuse takes many forms. But seniors are especially vulnerable when it comes to financial abuse and scams. Here are some of the most likely ways seniors are victimized.
Elder financial abuse is “widespread and damaging,” with the average victim losing $41,000, and almost one in 10 losing more than $100,000. Sadly, the culprits are most often family members, but banks have ways to protect their older clients.
The voice on the phone tells an elder they’ve won a million dollars in a lottery/sweepstakes, and in order to disburse the funds, an upfront payment is needed for tax purposes.
Terence McGinnis has been drinking from a fire hose for the past couple of months – figuratively speaking, of course.