| 000 | 02300nam a22002657a 4500 | ||
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| 999 |
_c8868 _d8868 |
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| 005 | 20250625151710.0 | ||
| 008 | 240814s2023 ||||| |||| 00| 0 eng d | ||
| 040 | _aAFVC | ||
| 100 |
_aGunther, Jileene _913271 |
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| 245 |
_aThe scope of elder financial exploitation : _bwhat it costs victims _cJileene Gunther |
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| 260 |
_bAARP, _c2023 |
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| 300 | _aelectronic document (11 pages) ; PDF file | ||
| 520 | _aElder financial exploitation (EFE) is “the illegal or improper use of an older adult’s funds, property, or assets.” Perpetrators range from family members and other people a victim knows (“known others”) to professional criminals. Through this kind of exploitation, many victims are stripped of a significant part of their retirement savings; declines in mental and physical health are also a consequence. Getting restitution is nearly impossible, and re-earning that money takes time, which many older victims do not have. Getting at the true financial scope of this immense problem has been elusive in part because many victims never report EFE due to shame and embarrassment. In fact, the tendency to not report an incident may be greatest when the perpetrator is related to the victim. This report, using a first-of-its-kind methodology to measure the annual financial cost of EFE in the United States, finds that victims over age 60 lose $28.3 billion each year. It concludes that the lion’s share of total losses–about 72% ($20.3 billion)—arises from fraud by people the victim knows, compared with losses from stranger-perpetrated incidents (28%, $8 billion). (From the website). Record #8868 | ||
| 650 |
_aECONOMIC COSTS _95369 |
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| 650 |
_aELDER ABUSE _9220 |
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| 650 |
_aFINANCIAL ABUSE _92968 |
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| 650 |
_aOLDER PEOPLE _9414 |
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| 650 |
_aPERPETRATORS _92644 |
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| 650 |
_aVICTIMS OF CRIMES _9623 |
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| 651 |
_aINTERNATIONAL _93624 |
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| 651 |
_aUNITED STATES _92646 |
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| 856 |
_uhttps://www.aarp.org/content/dam/aarp/money/scams-and-fraud/2023/true-cost-elder-financial-exploitation.doi.10.26419-2Fppi.00194.001.pdf _zDownload report, PDF |
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| 856 |
_uhttps://www.aarp.org/pri/topics/work-finances-retirement/fraud-consumer-protection/scope-elder-financial-exploitation/ _zAccess AARP website |
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| 942 |
_2ddc _cM _hnews129 |
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