THERE ARE 5 MILLION cases of elder fraud in the United States annually, resulting in $27.4 billion in losses. Most victims don’t report it, due to embarrassment. As awareness of this issue grows, so does the brazenness of those committing the frauds.
Too Trusting = Susceptibility
Seniors seem to be most susceptible to fraud and abuse; they come from a generation that trusted. Baby boomers are more skeptical. But I think as you age, you want to believe in the goodness of people, and that makes you more vulnerable.
Seniors are in more frequent contact with medical professionals who can steal their vital information. My brother-in-law’s identity was stolen by someone who stole a credit card receipt for his inpatient hospital TV service.