More than half of reported cases of financial elder abuse were committed by strangers, according to newly released findings from The MetLife Study of Elder Financial Abuse.
In the most common scenarios, strangers targeted victims who were out shopping, driving or managing financial affairs, and often looked for particular flags of vulnerability like handicap tags on cars, walking canes or the display of confusion. Crimes included cons, purse snatchings and associated physical assaults.
Other key findings from the MetLife study:
• Women were twice as likely as men to be victims of financial elder abuse
• Most victims of financial elder abuse were between ages 80 and 89.
• Most financial elder abuse victims lived alone and depended on others for help with health care or work around the house.
• Men between the ages of 30 and 59 accounted for almost 60% of perpetrators in reported cases of financial elder abuse.
• Victims of financial elder abuse were especially vulnerable during holidays.
The MetLife Study of Elder Financial Abuse was produced in partnership with the National Committee for the Prevention of Elder Abuse (NCPEA) and the Center for Gerontology at Virginia Tech. You can download a copy here.