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Elder Financial Abuse Rise Prompts More Credit Union Training

TAMPA, Fla. -- The staggering increase in investment scams targeted at the elderly has prompted MEMBERS Trust Company to ramp up its efforts to help credit unions spot red flags.

By Michelle A. Samaad | Updated on June 27, 2008

TAMPA, Fla. — The staggering increase in investment scams targeted at the elderly has prompted MEMBERS Trust Company to ramp up its efforts to help credit unions spot red flags.

According to a July 2006 survey from the North American Securities Administrators Association, while individuals aged 60 or older make up 15% of the United States’ population, they account for 30% of fraud cases.

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