Older population increases financial fraud risks – Atlanta Fed

Most financial exploitation of elderly goes unreported, researcher says

fraud-beads

The ageing of the US population could increase the risk of financial exploitation of the elderly, says an article published by the Atlanta Fed. 

Most of the abuses suffered by the elderly go unreported, which hampers efforts to assess the actual size of the problem. A study conducted by the state of New York in 2011 says that for every abuse denounced, 43 are not channelled to the authorities, according to Douglas King, payments risk expert at the Atlanta Fed. Another study by True Link

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