REMARKS
Statistics on elder financial exploitation in New York
0:03:08
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22 sec
Council Member Hudson presents alarming statistics on elder financial exploitation in New York, highlighting the scale of the problem and its underreported nature.
- Elder Financial Exploitation in New York is estimated to cost up to $1,500,000 annually
- Only 1 in 44 cases of elder financial exploitation is reported to authorities
- 42 out of every 1000 elderly New Yorkers are victims of financial exploitation
Crystal Hudson
0:03:08
According to the New York State Department of Financial Services, Elder Financial Exploitation in New York is estimated to cost up to $1,500,000 annually.
0:03:17
Elder financial exploitation is significantly underreported in New York state with only 1 in 44 cases being brought to the attention of authorities despite 42 out of every 1000 elderly New Yorkers being victims.
