{"id":1379,"date":"2014-01-20T15:55:37","date_gmt":"2014-01-20T15:55:37","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/01\/elder_financial_fraud_one_out"},"modified":"2022-03-10T16:38:02","modified_gmt":"2022-03-10T22:38:02","slug":"elder-financial-fraud-one-out","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-fraud-one-out\/","title":{"rendered":"Elder Financial Fraud: One Out of Five Seniors Victimized, Reports WSJ"},"content":{"rendered":"

\t\t\t\tAccording to the Wall Street Journal<\/em>, a 2010 survey conducted by the financial education organization Investor Protection Trust reports that out of ever five Americans age 65 and over, one of them has been the victim of elder financial abuse<\/a>. The paper is calling this an epidemic.<\/p>\n

A tracking by the Federal Trade Commission in 2012 found that 26% of all fraud complaints involved seniors age 60 and older. Unfortunately, says the WSJ<\/em>, investigators estimate that just 10% of elder financial fraud cases are reported, with most of these cases never undergoing investigation-a reason for this being that financial schemes are costly to probe. Often, there is little evidence and federal authorities will typically refuse to look into cases where under $100,000 was involved. Still, less than this amount is a lot for many people-especially retirees and those that are too sick to work anymore.<\/p>\n

Older seniors can make easy targets. According to a Duke University study, over one-third of seniors, age 71 and older, have some type of cognitive impairment that can make it hard for them to manage their money properly. There are also many seniors who depend on fixed incomes and are in need of additional funding that can easily fall prey to fraud. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to the Wall Street Journal, a 2010 survey conducted by the financial education organization Investor Protection Trust reports that out of ever five Americans age 65 and over, one of them has been the victim of elder financial abuse. The paper is calling this an epidemic. A tracking by the Federal Trade Commission in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3803],"tags":[],"class_list":["post-1379","post","type-post","status-publish","format-standard","hentry","category-senior-investors"],"yoast_head":"\nElder Financial Fraud: One Out of Five Seniors Victimized, Reports WSJ — Investor Lawyers Blog — January 20, 2014<\/title>\n<meta name=\"description\" content=\"According to the Wall Street Journal, a 2010 survey conducted by the financial education organization Investor Protection Trust reports that out of ever — January 20, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/elder-financial-fraud-one-out\/\" 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