Older adults and fraud: Suggestions for policy and practice

Olivia DaDalt ()
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Olivia DaDalt: Research Associate, MIT AgeLab, Massachusetts Institute of Technology, Cambridge, MA 02139-4307

Journal of Economic and Financial Studies (JEFS), 2016, vol. 4, issue 3, 38-44

Abstract: In this study I examine the issue of the vulnerability of older adults especially with regard to be a potential victim of economic fraud. A general review of current facts and figures suggest that financial fraud against older adults is rising across U.S.A totaling $36 billion. Unfortunately, most of the older adults are the baby boomers’ generation, who grow up in a relative peace and prosperity condition while facing much difficult financial realities in their old life. Result also suggest the intensity of facing financial frauds by older adults are correlated with their low level of financial literacy. Given the wider context of this phenomenon, I propose some policy measures to safeguard the financial interest of the older adults.

Keywords: Aging population; Economic fraud; Prosperity. (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:lrc:lareco:v:4:y:2016:i:3:p:38-44

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