A survey released this month highlighted what too many on the Space Coast and across the country already know: Investment fraud and financial exploitation of the elderly are major and persistent problems.More than 750 people, including securities regulators, financial planners, health care professionals, social workers, adult protective services, law enforcement officials, elder law attorneys and academics, participated in the online survey, which was conducted by two reputable groups, the Investor Protection Trust and the Investor Protection Institute.
About two-thirds of them said they deal with elderly victims of fraud and exploitation, and four out of five said older Americans are “very vulnerable” to this kind of thing.
The numbers back that up: More than 7 million Americans over the age of 65 — that’s one in five — had been victimized by a financial swindle, according to a 2010 survey by the Investor Protection Trust.
Don Blandin, the president and CEO of that group, said this latest poll shows these issues continue to grow.
"Financial swindles targeting older Americans are a bigger problem today than ever before,” he said, adding that the survey’s findings also highlight the need for more and better help for seniors in the financial arena.
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Adam Lowenstein: More swindlers are targeting seniors, so be alert
3 comments:
It's true and with swindling comes guardianship.
Anyone who takes advantage of the elderly or the young should get a tougher sentence.
Guardians who breach their fiduciary duty are no better than street swindlers, except they've got a "License to Steal"!
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