Financial Elder Abuse is Significant and Underreported

Written by Adam Peck Category: Elder Law January 26th, 2013 1 min read

The number of financial crimes against seniors is very significant right now.Statistics show California reports more than 225,000 cases of elder abuse per year. SEniors are a target of elder abuse because many have a large amount of equity in their home, they are easily intimidated and don’t want to be rude to others.

There are also a laundry list of scams that have run rampant throughout senior communities, including lottery scams, Nigerian letter scams and Medicare fraud. Always check out people you do business with through the Department of Corporations, and to report suspicious incidents. Reporting is the key, so the authorities can crack down on elder abuse.

Many victims are re-targeted, and many incidences go unreported since seniors are often embarrassed if they have been scammed. The average amount seniors lose on an investment fraud is $12,500 to $25,000. Take control of credit card debt, and do not fall for scams promising to repair your credit.

Contact Steven Peck’s Premier Legal toll free at 1.866.999.9085 to talk to an experienced elder abuse and neglect attorney, including nursing home abuse and financial elder abuse and visit us on-line at www.premierlegal.org.

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Written by Adam Peck

Expertise: Personal Injury

Adam J. Peck, ESQ is a principal with Peck Law Group, APC. In 2008, Mr. Adam Peck received his Juris Doctorate from Whittier Law School where he graduated Cum Laude. His practice is primarily dedicated to representing Elders, Dependent Adults, along with their loved ones and family members, who have suffered horrific personal injuries.