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It’s June, a special month for honoring loved ones, especially parents and grandparents by raising ElderAbuse Awareness. World ElderAbuse Awareness Day is officially June 15th and it’s an ideal time to educate oneself on how to protect elders from becoming victims of financial abuse.
It found that fraud poses a substantial threat to Europe’s financial industry, with an estimated $103.6billion in losses resulting from various scams and bank fraud scenarios.
Fake Grandchild Scam. Among the most common methods of fraud is the fake grandchild scam. PYMNTS readers no doubt know how the scam works, but Experian provided a helpful explanation. But bank employees are learning to recognize when their customers are in danger of falling for the scam. Other Scams.
Did you know that today is World ElderAbuse Awareness Day ? In addition to being a passionate defender in the fight against child identity fraud , I am also an ardent supporter of elders’ financial well-being. Be on the Lookout for Scams. Play a voicemail message from a travel-award scam, if you get one.
Elder financial exploitation is a common issue throughout the United States. A study published in the American Journal of Public Health found that more than 5% of the elderly population experiences some kind of fraud or scam every year. incidents of elder financial exploitation were committed in 2017 alone.
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