Elder Financial Abuse Lawyer Tag Archives

Are You A Victim of Elder Financial Abuse? Elder Fraud Cost Victims More Than $3.4B in 2023, Reports FBI

June 15 was World Elder Abuse Awareness Day, which was established to promote a greater awareness globally about the abuse and neglect that can be suffered by older persons. Here, at Shepherd Smith Edwards and Kantas our Elder Financial Abuse Lawyers (investorlawyers.com) represent seniors who have fallen victim to elder financial abuse by a broker or investment adviser.

In a recent report by the Federal Bureau of Investigation (FBI), its Internet Crime Complaint Center stated that in 2023, total losses exceeded over $3.4B from scams reported that targeted victims older than 60. That is a nearly 11% rise from the losses reported in 2022. About $1.24B of the losses from last year were a result of investment schemes.

Are You An Older Investor Whose Broker Failed to Protect You From Investment Fraud?

Our Knowledgeable Elder Financial Abuse Attorneys Represent Senior and Elderly Retirees In Pursuing Damages

According to a new study by the FINRA Investor Education Foundation and Rush University Medical Center, seniors are more vulnerable than previously thought to financial scammers pretending they belong to a bogus government agency. Out of 644 older adults in the Chicago area with an average age of 85.6, 16.4% of them took part “without skepticism” in live calls and emails between October and December 2021. Almost 75% of them gave out their personal information, including the last four numbers of their Social Security ID.