Keeping a watchful eye on your assets can present a formidable challenge in this day and age. Fraud affects more than 25 million Americans each year1, and exploiters are constantly developing new and more sophisticated schemes. Many of us are concerned not just about our own money, but about family members’ funds as well. There are currently about 36.5 million people serving as unpaid caregivers for adult family members in the U.S., and in almost half of those cases, that caregiving involves protecting finances.2 Educating ourselves and loved ones about current scams is critical. And vigilant monitoring can serve as the first line of defense for shutting down fraud at its inception.
1 https://www.consumer.ftc.gov/blog/fraud-affects-25-million-people-recognize-anyone-you-know
2 WISER/Transamerica, 8 Financial Steps for Caregivers citing Caregiving in the US, National Alliance for Caregiving; AARP Gunther, Public Policy Institute, Bank Safe Jan 2016