Monday, June 10, 2024

Financial Fraud Costs Older Adults Billions Annually

Term of the Month – Financial Fraud of Older Adults

According to the Better Business Bureau, older adults lose more than $36 billion to financial fraud every year. Financial fraud occurs when a perpetrator obtains the voluntary provision of personal information, property, or monetary resources through duplicitous tactics. 

Research has found that older adults are more likely to be targets of financial fraud and lose more money on average than younger adults.

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