US News: “Elder Financial Exploitation: Warning Signs, Prevention and Reporting”
May 27, 2021, US News & World Report — Featured in today’s edition of US News is an article by Marguerita Cheng, CFP® Pro about a topic near to her heart.
Rita writes: Financial exploitation in the elder population has been on the rise, with financial institutions reporting quadruple the number of such incidences from 2013 to 2017, according to the Consumer Financial Protection Bureau, or CFPB.
No matter how big or small the deception, it can leave older adults and their families financially and emotionally devastated.
What can you do to protect your loved ones? It starts by understanding elder financial abuse, learning how to spot red flags, putting preventive measures in place, and knowing how to report suspicious activity.