Kin and caregivers rip off elders

More seniors are falling victim to the people who are supposed to protect them.

The majority of financial exploitation cases against the elderly are committed by family members or caregivers, according to a survey by the Investor Protection Trust, a not-for-profit consumer education organization. The survey found that nearly 20 percent of all Americans older than 65 have been victims of financial fraud.

The organization says the most financial frauds of this sort are theft of funds or property.

Seniors also fall prey to financial scams perpetrated by strangers, although at a lower rate. The frauds committed by strangers often involve fake lotteries, sweepstakes or investment schemes.