Elder fraud

The fintech and nonprofit join others, including AARP and the ICBA, in working to raise awareness of the financial risks of Alzheimer's and dementia.

A suit filed in federal court marks the third time in recent months that Charles Schwab and its affiliates have been accused of failing to prevent elderly clients from being swindled out of their life savings.

A lawyer for an 80-year-old claimant whose retirement accounts were drained says he's trying to force firms to do more to prevent scams.

Scams targeting individuals aged 60 and older caused over $3.4 billion in losses in 2023 — an increase of approximately 11% from the year prior, according to the FBI.

By blending empathy, pragmatism, prompt action and effective communication, financial planners can have an outsized impact on clients with dementia and their families.

The growing number of fraud victims who suffer staggering financial losses often find themselves having to pay Uncle Sam for their missing income, experts say.

By combining strategic queries with compassion and empathy, financial advisors can convey the message that older clients' legitimate fears around loss are understood.

Americans over age 60 reportedly lose $28.3 billion each year to fraud. The problem may be even worse than advisors thought, a new study says.

More elderly consumers are being diagnosed with Alzheimer's and dementia — making them vulnerable to scammers. Financial institutions are seeking special certifications to better equip themselves to help.

A 2018 law protects wealth managers who report scams against seniors — but it can only help them if they're aware of it.

Even before the collapse of FTX, concerns about cryptocurrency and other risky investments were keeping regulators busy.

Scam artists are increasingly targeting elderly Americans for their retirement savings. But the warning signs can be obvious, if investors — or their advisors — know what to look for.

Seniors lose more than $3 billion each year in financial scams. A panel looked at how they can protect themselves, and how trustworthy advisors can help.

Jacob Glick is accused of breach of fiduciary duty and misappropriating client funds, among other alleged misconduct.

James Booth’s seven-year fraud bilked investors out of nearly $5 million.

After the client died at age 98, the advisor allegedly moved on to bilk another elderly investor, authorities say.

“Concerns over the program's ability to pay promised benefits have been around for a long while, but they're heightened,” an expert says.

A watchful planner might have saved a matriarch’s IRA from being allegedly pillaged by her son.

Although the elderly often lose the most from scams, younger clients are more likely to fall victim, according to a report.

If they fear a sharp downturn, seniors may want to avoid locking up their retirement accounts in long-term bonds.