Wednesday, October 10, 2007

Ten Thousand Americans are Turning 60 every 24-Hours

NEEDHAM, MA, October 4, 2007 - Ten thousand Americans are turning 60 every 24-hours. The threat of financial fraud targeting this population is increasing given the large proportion of investable assets owned by this fast-growing demographic segment. Legislators and regulators aFormal tracking of elder abuse in the United States by the National Council on Aging and other agencies finds that financial exploitation is as significant and damaging as other types of abuse.

Unlike physical abuse, from which a victim can often fully recover once the abuse is put to a stop, financial fraud can result in permanent damage - that is, the loss of the victim's financial independence at a time where he or she has no means of rebuilding a retirement nest beginning to require that financial institutions take special steps to protect these customers.

Read Regulators Turn Attention To Stemming Financial Abuse Of The Elderly >>

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