• Approximately 1 in 5 senior citizens has been victimized financially.
  • Research found that only 1 in 14 cases of elder fraud are reported. This is likely because the victim wasn’t aware of the fraud, is too embarrassed to report the crime, or is afraid reporting will lead to losing their independence.
  • The perpetrator may be a trusted family member or friend, and the senior citizen is protecting the thief for fear they will be arrested, leaving the victim alone.
  • A study on elder financial abuse found that 34% of instances of fraud against senior citizens were perpetrated by family, friends, and neighbors. Other studies find an even higher percentage of financial abuse by family members.
  • Fraud complaints by individuals age 60 and older increased more than 47% between 2012 and 2014, with 51% of instances of fraud perpetrated by strangers.
  • Many perpetrators of fraud against seniors resort to intimidation and threats in order to steal money from the victim.
  • A True Link Financial report in 2015 estimated elder financial abuse exceeds $36.48 BILLION each year.
  • Rather than enjoying retirement… many victims of elder fraud have lost their savings, and must choose between buying medications they need and paying for electricity or heat.
  • Victims include veterans, teachers, nurses, firefighters, police, farmers, and clergy. Unknown to you, financial abuse may be happening to someone you know or love.

 

Older Americans have made immeasurable contributions to our nation: they have served in the military, helped create businesses and jobs, contributed to the growth of the United States economy, and raised families. After decades of hard work, they deserve our respect and appreciation.

Regrettably, our senior citizens are targeted by individuals who take advantage of their kindness, emotions, or cognitive impairment, and, without conscience, con them out of their entire life’s savings.

Stop Senior Thefts is an organization focused on Engaging, Educating, and Empowering Senior Citizens, their families, financial institutions, medical professionals, and law enforcement agencies on methods to identify and mitigate financial abuse of Senior Citizens by individuals who take advantage of their kindness, emotions, or cognitive impairment.