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Here’s what advisors can do if they suspect a senior is being financially abused or exploited | CNBC

Here’s what advisors can do if they suspect a senior is being financially abused or exploited | CNBC

Financial advisors are confronting a new threat: elder financial abuse.  Nearly half of seniors aged 65 or over oversee their own finances, which makes them vulnerable to thieves.  What’s more, about 33% don’t know how to report an elder financial abuse incident. Seniors scammed by strangers lost an average of $17,000, while those who were ripped off by someone they know lost an average of $50,200.

Source: https://www.cnbc.com/2019/09/27/heres-what-advisors-can-do-if-they-suspect-elder-financial-abuse.html

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