It is well known that senior citizens are more prone to fraud than younger individuals. Research indicates that seniors lose an estimated $2.9 billion to fraud each and every year. Now, MetLife’s Mature Market Institute may have found the reason why. They have conducted a study with the National Committee for the Prevention of Elder Abuse and the Center for Gerontology at Virginia Tech into physical brain differences in seniors and the results were astonishing.
The Brain Research
Shelley Taylor, a professor of psychology at the University of California Los Angeles, led the research project. She became interested in the topic when her father was tricked out of $17,000 by two men who convinced him to empty his bank account. Her aunt was also a victim of a fraudulent scheme when she agreed to buy diamond earrings via mail that turned out to be glass.