SOFX The Crossroads of Special Operations 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.
