Financial Abuse Of Elderly On The Rise
Sunday, September 9, 2012
"Financial abuse of the elderly is getting worse, and most seniors don't know how to seek reliable financial help.
"There is no silver bullet that will end the financial abuse of America's seniors," says Don Blandin, president and CEO of the non-profit Investor Protection Trust (IPT), which released a survey Wednesday about elder exploitation. IPT conducted the survey after the Consumer Financial Protection Bureau requested more information about the problem. The experts IPT surveyed said the most common type of abuse is when family members steal or divert funds or property. The next biggest problems are caregiver theft and financial scams perpetrated by strangers."
More after the jump...