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Before discussing financial fraud with your parents, it's crucial to understand the seriousness of the crisis and its profound impact on millions of older Americans.
Financial fraud is having a devastating impact on the 62+ community, and emerging technologies, like AI, are making it increasingly difficult to detect and prevent. Before discussing financial fraud with your parents, it's crucial to understand the seriousness of the crisis and its profound impact on millions of older Americans.
- $28 Billion stolen from older Americans each year
- $35,000 is the average amount lost per victim
- 65% of fraud victims experience emotional duress, including severe stress, anxiety, difficulty sleeping, and depression
...but there is hope. When people are aware of a specific scam, they are 80% less likely to engage with it, and if they do engage, they are 40% less likely to lose money or sensitive information.