Elderly fraud cost American seniors, age 60 and over, more than $966 Million in 2020, according to the FBI. This continues to be a growing world-wide problem with criminals using online scams targeting seniors, especially those living alone.
Obviously, these scams take a very huge financial toll from retirement, or estate planning, to paying bills to even buying groceries. The unknown impact is the emotional problems of well-being, insomnia, loss of appetite, anxiety, depression and relationship issues.
Emotional issues can create physical problems.
- Accelerated Cognitive Decline
- Impaired Immune System
- Increased Blood Pressure Leading to Cardiovascular Problems
- Often Leads to Self-Medication, Alcohol or Drugs
- Loss of Financial Security
- Loss of Independence
- Loss of Trust in People
- Embarrassed Over Financial Loss
- Embarrassed that Others will Question Your Wisdom
- Worry that Children will Take Away Your Financial Independence.
Seniors experiencing any of the above emotion conditions are at a high risk to self-isolate within their own home. They may be too ashamed to leave the house, speak with close friends, or relatives about the issues. The isolation can, and often does, lead to severe loneliness, and finally deep depression. Friends and relatives need to identify this isolation and take action, the senior may need professional help.