Financial Exploitation of the Elderly: An Overview of Regulatory Action

Authors

Christine Lazaro, St. John's University School of LawFollow

Document Type

Conference Proceeding

Publication Title

PIABA Mid-Year Meeting Materials

Publication Date

2018

Abstract

(Excerpt)

Financial exploitation of the elderly is a significant problem, which is only getting worse over time. A study by MetLife estimated that seniors lost $2.9 billion as a result of financial abuse, recognizing that the number was likely low due to underreporting of abuse. Each year, the elder population increases as the baby boomer generation ages. By the year 2050, it is estimated that 83.7 million people will be aged 65 or older, double what it was in 2012.

Comments

Available at: https://ssrn.com/abstract=3192128

Reprinted with the permission of Public Investors Arbitration Bar Association (PIABA).