A recent trade journal published an article citing new scientific research that suggests that older adults’ brains lose the ability to distinguish between trustworthy and untrustworthy facial appearances.
New research, published two weeks ago in the Proceedings of the National Academy of Sciences, has shed light on this question. Led by UCLA professor Shelley Taylor and other researchers, the series of studies found that an area of the brain that triggers gut feelings when assessing someone’s appearance to determine his or her trustworthiness — the anterior insula —did not fire when older adults were shown photographs of suspicious-looking people.
A study published by the Metlife Mature Market Institute and the National Committee for the Prevention of Elder Abuse agrees that financial exploitation of elders is rising. The study’s range of abuse includes: fraud perpetrated by strangers; financial abuse by family, friends and neighbors; exploitation within the business sector; and Medicare and Medicaid fraud. The annual financial loss was estimated to be at least $2.9 billion dollars. The most common form of financial abuse? Theft or diversion of funds by family members.
This holiday season, as we spend time with our family and loved ones, let’s consider those in our families who are older and may be more vulnerable to exploitation and abuse. Let’s resolve that this will not happen to them, and take some proactive steps to guard them so that their twilight years can be spent with dignity and confidence.
David Russell is a Senior Vice President with Pinnacle Trust, and author of the book, What You Need to Know: The Adult Child’s Guide to Becoming a Financial Caregiver. Click here to order your copy.
Last week, the Investor Protection Trust (IPT) released the results of a survey regarding the growing problem of elder financial abuse. Available online at 
