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You, or someone you know, could become the victim of a growing crime in America — financial exploitation of older Americans. Criminals are targeting people of all ages, and especially older people of exploitation. As people over 50 years old hold most of the nation's wealth, fraudsters are using new tactics to take advantage of retiring baby boomers and the growing number of older Americans.
It is the fastest-growing form of elder abuse and it is defined as the illegal, unauthorized, or improper use of an older person's funds, property, or assets. It’s a crime that deprives older adults of their resources and ultimately their independence. Perpetrators may be family members, friends, neighbors, caregivers, health care providers, business associates, or strangers.
Look for changes in patterns of behavior. Watch out for these “red flags”: