Artificial intelligence, data, and virtual reality may become future tools for elder financial abuse. In the age of technology, elders rely on direct mail and telephone solicitation to become familiar with non-profits and give to charity, which means charity scammers can still easily defraud them. Further, with these new options, fraudsters will have intimate knowledge on how to appeal to the emotional triggers of elders. The potential for manipulation is huge.
See Ted Knutson, Al, Big Data May Become Tools for Elder Financial Abuse, Financial Advisor, March 22, 2017.
