Scamming Depression Era Elders: Neuroanatomical Basis for Poor Decision Making Among Older Adults

Deceiving the elderly is not a new problem, but it is one that has been growing in prevalence. To illustrate, financial abuse of elders aged 65 and older has risen from a low of 8% in 1950 to an astounding 20% in 2010 (Infogroup / ORC, 2010; Kemp, 2005). These recent statistics may even underestimate the extent of the problem, with only 1 in 25 cases being reported (Wasik, 2000). Financial losses due to elder fraud are considerable. Estimates have placed losses at $2.6 billion in 2008, rising to $2.9 billion in 2011 (MetLife, 2011). Sadly, these numbers do not take into account the devastation fraud can have on the elderly and their families, often wiping out entire savings and years of work in a single action, not to mention the negative psychological effects.