Financial Elder Abuse: A (Dis)Confirmatory Analysis

18 Pages Posted: 8 Jun 2019

See all articles by Steven Lee

Steven Lee

The American College of Financial Services; Northcentral University

Date Written: May 21, 2019

Abstract

Elder abuse in the United States is all too common, and it is often perpetrated by family members as well as trusted professionals such as attorneys or financial planners. Financial exploitation of elders often goes unreported. This paper investigates the victim and offender characteristics of trusted professionals who commit fraud against people aged 60 and older. This study utilizes the 2009 and 2011 National Incident-Based Reporting System (NIBRS) and employs logistic regression to test victim and offender qualities as predictive factors for financial elder abuse. The findings are inconsistent with results from the MetLife Mature Market Institute studies of the same respective years. A surprising find from the data shows that no family-member perpetrated fraud-like activity against an elder at the elder’s residence was reported in either 2009 or 2011. Reasons for these inconsistencies, as well as future research possibilities, are offered.

Keywords: financial exploitation, fraud, financial elder abuse, NIBRS

JEL Classification: L22, K11, K13, K35, Z18

Suggested Citation

Lee, Steven, Financial Elder Abuse: A (Dis)Confirmatory Analysis (May 21, 2019). Available at SSRN: https://ssrn.com/abstract=3391674 or http://dx.doi.org/10.2139/ssrn.3391674

Steven Lee (Contact Author)

The American College of Financial Services ( email )

270 S. Bryn Mawr Avenue
Bryn Mawr, PA 19010
United States

HOME PAGE: http://www.georgejamesassociates.com

Northcentral University ( email )

United States

HOME PAGE: http://www.georgejamesassociates.com

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