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Fin Plan Aug 2011 - "New Study Shows Increase in Senior Financial Fraud: 
How Can You Protect Your Parents’ Assets?"

Fin Plan Aug 2011 - "New Study Shows Increase in Senior Financial Fraud: 
How Can You Protect Your Parents’ Assets?"

Fin Plan Aug 2011 - "New Study Shows Increase in Senior Financial Fraud: 
How Can You Protect Your Parents’ Assets?"

Excerpt


New Study Shows Increase in Senior Financial Fraud: 
How Can You Protect Your Parents’ Assets?


Senior fraud is a serious problem. You have probably seen many examples in the news – and it can happen to you or your aging parents. A June 2011 study by MetLife (The MetLife Study of Elder Financial Abuse: Crimes of Occasion, Desperation, and Predation Against America’s Elders) found that financial fraud and abuse perpetrated against the elderly in the United States rose by 12 percent in 2009 to $2.9 billion, compared to $2.6 billion in 2008. Strangers perpetrate more than half of all fraud against older citizens; however, it is likely that the 34 percent of reported cases of fraud committed by family members, friends and acquaintances is too low. In fact, most cases are unreported due to embarrassment or fear. The problem is probably much bigger than statistics indicate.


 



 



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