Re:True Link (YC S13) To Help The Elderly Avoid Scammers Wit...
by sarahkpeck on Thursday August 01, 2013 @12:53PM
(#6141646)
In answer to this question; the phrasing could be more specific. I believe he's referencing the number of seniors who are targets for scams like these and would benefit from a card like this. In this case, the question is: how many seniors are there in America, who are living alone, with some cognitive decline, and highly susceptible to fraud and scams?
The scary part is that it's likely much, much higher (the number of people being taken advantage of) -- because so much of it goes undetected, or worse, unreported.
See this Bloomberg piece -- 2010 estimates that financial abuse victimizes 1 in 5 elderly; about 7.3 million senior citizens have reported being taken advantage of. http://www.bloomberg.com/news/2010-06-15/financial-abuse-vic...
The scary part is that it's likely much, much higher (the number of people being taken advantage of) -- because so much of it goes undetected, or worse, unreported.