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Why Do the Elderly Suffer More From Financial Abuse?

The elderly are certainly at risk when it comes to financial abuse. A lot of scams specifically target them. One part of the reason is that they often have excess money — you can’t scam someone who doesn’t have what you want — and scammers target their life savings. Another part of the issue, though, is that they really are more susceptible.

There are numerous reasons for this. One, of course, is that elderly individuals may have some level of cognitive impairment. For many, it’s just part of aging. They have trouble with their memory or they have degenerative brain diseases. Those who want to financially abuse them use these things to their advantage.

However, what’s interesting is that some scientific studies have found that even those without disorders, who aren’t impaired, still show a greater chance of being scammed than those who are younger. They’re at excessive risk, even when it doesn’t seem like they should be. The way that some experts have described it is that their “radar for scams goes dark.”

This is especially problematic for those in nursing homes and assisted living centers. They are already dependent on the staff members for care, and that puts the staff in a position of power. That’s the perfect position to take advantage of someone financially. When you combine that with the fact that the elderly person may not even realize what’s happening, it’s a reason for a lot of abuse.

Has your loved one been abused in any way in a nursing home? Make sure your family knows what legal steps you can take.