“Elderly Americans Plagued By Fraud, Survey Finds,” Advisor Magazine

“As millions of Americans retire over the next decade, financial crimes and abuse against the elderly are occurring at an alarming rate, according to the results of a survey released today by the Cooperative Credit Union Association (CCUA), a trade group representing not-for-profit credit unions. . . . Sixty-seven percent of those identifying themselves as a caretaker reported an elder being targeted with fraud; more than a quarter of elders, at 28%, had also fallen victim to at least one financial scam.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Not to mention the “legal fraud” of some family members, including some “caretakers,” who expropriate their elders’ wealth to qualify them for Medicaid nursing home benefits.

Elderly Americans Plagued By Fraud, Survey Finds

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#fraud