When Wells Fargo Advisors held a conference to discuss elder financial abuse, it seemed at times like nearly every one of the 200 people in attendance was personally acquainted with a family member or friend who has been victimized.  But perhaps that’s not surprising, given the scope of the crime and the rate at which it’s growing.

Already a significant social issue, losses related to financial abuse and fraud committed against older Americans have increased 12% in just four years* and continue to rise as our population ages, expanding the pool of potential victims.  Sadly, some 75% of documented elder financial abuse is committed by trusted family members and caregivers, rather than by strangers*.  Often that betrayal, coupled with the financial loss, has a devastating impact from which victims find it difficult, if not impossible, to recover.

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