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Usual Suspects in Elder Financial Theft? Adult Children, FinCEN Says

The most frequent perpetrators of elder theft in the U.S. are the victims' own children, followed by nurses, aides and other professional caregivers, the Financial Crimes Enforcement Network, also known as FinCEN, disclosed in a 14-page analysis Thursday. As part of the analysis, FinCEN reviewed more than 155,400 suspicious activity reports, or SARs, that financial institutions filed from June 2022 to June 2023 pursuant to the Bank Secrecy Act, or BSA, on a combined $27 billion of "actual or attempted" transactions linked to potential scams against the elderly or possible thefts from their accounts. Filers identified adult children as the perpetrators...

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