What Is Elder Fraud And How Do We Prevent It?

Elder fraud is a large and growing problem, costing many seniors the savings they worked hard for in their younger years. Reports indicate older Americans lose anywhere between $2.9 to $36.5 billion each year.

According to the U.S. Consumer Financial Protection Bureau, individual victims of elder financial fraud lose an average of $34,200. In 7% of the cases, victims lose over $100,000.