June 15 is World Elder Abuse Awareness Day and because I’m a Daily Money Manager, I focus on the financial abuse side of elder abuse.
Did you know that according to the True Link study done in 2015 that seniors lose $36.5 billion each and every year to financial abuse!
What’s worse: that number isn’t even accurate…the real loses are much bigger!
You see, for every one case of financial abuse that’s reported, it’s believed that as many as 24 cases are not!
Why? Unfortunately, a lot of abuse is carried out by family members. Who wants to turn in a family member?
The same report states that almost $7 billion is lost by the senior from someone they trusted–but again, that number is probably small compared to the real number that’s unseen.
Almost $13 billion is lost to fraud when criminals commit identity theft or con seniors into sending money or sharing personal information under false pretenses.
One way you can help fight this epidemic is to know what you’re dealing with.
Be a Superhero to a senior! Help protect them by learning about and spreading the word on how to avoid being taken advantage of by fraud and scams. Click here to download our special report: How To Avoid 7 Scams Targeting Seniors.
Protect yourself or someone you love against fraud, scams, and other types of elder financial abuse today…and always.