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The dangers of elder financial abuse and fraud
Manage episode 425337093 series 1511546
Content provided by Audacy. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Audacy or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
One of the prominent areas of elder abuse is the financial exploitation of older Americans, including financial abuse by acquaintances and financial fraud by strangers.
In 2023, elder fraud complaints rose 14% with losses exceeding $3.4 billion, averaging $33,915 per victim. The FBI's report notes tech support and investment scams as major threats, with investment scams causing over $1.2 billion in losses.
Authorities advise verifying identities in emergencies and using trusted contacts for financial accounts to prevent fraud. Suspected victims should contact the FBI or submit a complaint online.
KRLD's John Liddle talked about elder financial abuse with CBS News money expert Jill Schlesinger.
1192 episodes
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Manage episode 425337093 series 1511546
Content provided by Audacy. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Audacy or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
One of the prominent areas of elder abuse is the financial exploitation of older Americans, including financial abuse by acquaintances and financial fraud by strangers.
In 2023, elder fraud complaints rose 14% with losses exceeding $3.4 billion, averaging $33,915 per victim. The FBI's report notes tech support and investment scams as major threats, with investment scams causing over $1.2 billion in losses.
Authorities advise verifying identities in emergencies and using trusted contacts for financial accounts to prevent fraud. Suspected victims should contact the FBI or submit a complaint online.
KRLD's John Liddle talked about elder financial abuse with CBS News money expert Jill Schlesinger.
1192 episodes
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Similar to KRLD News
Join Larry Mantle weekdays for lively and in-depth discussions of Los Angeles and Southern California news, politics, science, entertainment, the arts and more. More AirTalk at www.kpcc.org.
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continue reading
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continue reading
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continue reading
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