How Cognitive Decline Leaves the Older Population Vulnerable to Elder Financial Abuse

According to a 2011 Government Accountability Office (GAO) study, approximately 14.1 percent of adults age 60 and older in the United States have experienced some kind of physical, psychological or sexual abuse; potential neglect; or financial exploitation in the past year. Cognitive decline is a key factor that makes the aging population susceptible to elder financial exploitation, according to the Elder Financial Exploitation 2018 report by the U.S. Securities and Exchange Commission’s Office of the Investor Advocate. 

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