Elder fraud is an increasing reality in today’s world. According to the United States Special Committee on Aging, older American’s lose, on average, $3 billion per year to scams. This is an extremely alarming, yet under-reported number, as not every case of fraud and financial exploitation is reported. It is important for people to be aware and recognize warning signs to better protect themselves.
Today, Catherine Collinson, president of nonprofit Transamerica Center for Retirement Studies, joins us to talk about elder fraud.