{"id":12078,"date":"2026-10-12T15:38:26","date_gmt":"2026-10-12T19:38:26","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=12078"},"modified":"2026-10-12T15:38:26","modified_gmt":"2026-10-12T19:38:26","slug":"aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/","title":{"rendered":"AARP Study Shows Financial Exploitation And Fraud Costs US Seniors $28.3 Billion"},"content":{"rendered":"<h3><em><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10372 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg\" alt=\"Broker Clarice Saw Barred After SEC Charges Of EFE\n\nIn 2023, Americans over 60 lost upwards of $28.3 billion, according to a study from the American Association of Retired Persons (AARP). Of that figure, 72% comes from \u201cknown others,\u201d or someone the individual knows, including family, friends, care workers, financial representatives, and others. The remaining 28%, totaling $8 billion, is fraud and theft by strangers.\n\nKnown as EFE, or Elder Financial Exploitation, it\u2019s the \u201cthe illegal or improper use of an older adult\u2019s funds, property, or assets,\u201d according to the AARP. While there are civil and criminal penalties for committing fraud against someone over 60, most of the fraud goes unreported by the victims because of shame or fear of other retribution.\n\nBecause elderly clients tend to be more vulnerable, brokers, financial advisors, and other trusted consultants have an easier time defrauding them. The addition of cognitive decline in some of these clients renders them particularly vulnerable and more likely to be taken advantage of by someone they trust.\n\nOnly $7.8 billion of stolen client funds are reported to authorities. An additional $20.5 billion stolen but never reported. Elderly victims are more likely to avoid reporting being defrauded. The true dollar amount of EFE is likely much higher because of this under-reporting.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall-180x120.jpg 180w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>Broker Clarice Saw Barred After SEC Charges Of EFE<\/em><\/h3>\n<p>In 2023, Americans over 60 lost upwards of $28.3 billion, according to a study from the American Association of Retired Persons (AARP). Of that figure, 72% comes from <em>\u201cknown others,\u201d <\/em>or someone the individual knows, including family, friends, care workers, financial representatives, and others. The remaining 28%, totaling $8 billion, is fraud and theft by strangers. <a href=\"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/#more-12078\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Broker Clarice Saw Barred After SEC Charges Of EFE In 2023, Americans over 60 lost upwards of $28.3 billion, according to a study from the American Association of Retired Persons (AARP). Of that figure, 72% comes from \u201cknown others,\u201d or someone the individual knows, including family, friends, care workers, financial representatives, and others. The remaining [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[582,580],"tags":[],"class_list":["post-12078","post","type-post","status-publish","format-standard","hentry","category-elder-fraud","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AARP Study Shows Financial Fraud Costs US Seniors $28.3 Billion<\/title>\n<meta name=\"description\" content=\"In 2023, Americans over 60 lost upwards of $28.3 billion, according to a study from AARP, 28%, $8 billion, is fraud and theft by strangers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"AARP Study Shows Financial Fraud Costs US Seniors $28.3 Billion\" \/>\n<meta name=\"twitter:description\" content=\"In 2023, Americans over 60 lost upwards of $28.3 billion, according to a study from AARP, 28%, $8 billion, is fraud and theft by strangers.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"AARP Study Shows Financial Fraud Costs US Seniors $28.3 Billion","description":"In 2023, Americans over 60 lost upwards of $28.3 billion, according to a study from AARP, 28%, $8 billion, is fraud and theft by strangers.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/","twitter_card":"summary_large_image","twitter_title":"AARP Study Shows Financial Fraud Costs US Seniors $28.3 Billion","twitter_description":"In 2023, Americans over 60 lost upwards of $28.3 billion, according to a study from AARP, 28%, $8 billion, is fraud and theft by strangers.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"AARP Study Shows Financial Exploitation And Fraud Costs US Seniors $28.3 Billion","datePublished":"2026-10-12T19:38:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/"},"wordCount":719,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg","articleSection":["Elder Fraud","Stockbroker Misconduct"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/","url":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/","name":"AARP Study Shows Financial Fraud Costs US Seniors $28.3 Billion","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg","datePublished":"2026-10-12T19:38:26+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"In 2023, Americans over 60 lost upwards of $28.3 billion, according to a study from AARP, 28%, $8 billion, is fraud and theft by strangers.","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/#primaryimage","url":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg","contentUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/01\/FiverRecoverysmall.jpg","width":300,"height":200},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/aarp-study-shows-financial-exploitation-and-fraud-costs-us-seniors-28-3-billion\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"AARP Study Shows Financial Exploitation And Fraud Costs US Seniors $28.3 Billion"}]},{"@type":"WebSite","@id":"https:\/\/www.silverlaw.com\/blog\/#website","url":"https:\/\/www.silverlaw.com\/blog\/","name":"Securities Arbitration Lawyers Blog","description":"Published by Securities Arbitration Lawyers \u2014 Silver Law Group","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.silverlaw.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752","name":"Silver Law Group","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","caption":"Silver Law Group"}}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/12078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/comments?post=12078"}],"version-history":[{"count":2,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/12078\/revisions"}],"predecessor-version":[{"id":12080,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/12078\/revisions\/12080"}],"wp:attachment":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=12078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=12078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=12078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}