One-third of people over the age of 71 suffer from cognitive impairment, according to a 2008 medical study. Meaning approximately 8.8 million seniors have mild cognitive impairment, dementia, or changes in executive cognitive functions. Cognitive impairment, in turn, makes people “more likely to make financial errors and more willing to gamble with their money.” (Reiser, & Eisenkraft 2013). Seniors are extremely vulnerable and financial abuse presents a societal problem that is large and rapidly increasing in scope.
