Mediate Michigan

When we talk about the aging population in the United States, the conversation is often focused on who will take care of the physical needs of millions of seniors.

But there’s a growing threat we also need to make our concern: financial fraud of the elderly.

One of five Americans over the age of 65 — that’s 7.3 million seniors — has been victimized by a financial swindle, according to a newly released survey by the Investor Protection Trust, a nonprofit education organization.

This survey is particularly troubling when you consider that more than a third of people over 70 have some form of memory impairment, according to a 2008 published study by a national team of university researchers. Cognitive problems make seniors more vulnerable to fraud.

via Michelle Singletary – Look for signs of fraud against the elderly.