"There's an epidemic of financial elder abuse, but the chief perpetrators aren't lenders. It's family members," stated consultant at the San Francisco Consortium for Elder Abuse Prevention.

According to MetLife's Mature Market Institute, the elderly suffer $2.6 billion per year in fraud; but since only 1 in 25 cases are reported, this is a grossly understated figure. The saddest part of these numbers is that, according to MetLife, "Approximately 60% of the substantiated Adult Protective Services' cases of financial abuse involve an adult child, compared to 47% for all other forms of abuse." One would think that a scam artist, housekeeper or unethical service provider would be at the top of the list. Unfortunately, the sons of the elderly are those most likely to victimize their parents.

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