PIABA Mid-Year Meeting Materials
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.
Lazaro, Christine, "Financial Exploitation of the Elderly: An Overview of Regulatory Action" (2018). Faculty Publications. 264.