Increased isolation during COVID-19 may increase risk of fin

Increased isolation during COVID-19 may increase risk of financial exploitation
Published Tuesday, Feb. 23, 2021, 11:41 am
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Social isolation, loneliness and increased reliance on the internet can create a perfect storm for the financial abuse and fraud victimization of seniors.
Social distancing and quarantines intended to protect against the spread of COVID-19 also have increased social isolation for many seniors, making them more vulnerable to financial exploitation.
“Financial abuse can happen anytime, but perpetrators often strike when seniors are most vulnerable, such as during a health or other crisis or after the death of a loved one,” said Ron Thomas, director of the State Corporation Commission’s Division of Securities and Retail Franchising.

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