Dear Angel,
They say that there is a correlation between early diagnosis of Alzheimer’s and falling prey to financial scams. Is this true and if so, what can we do if we see someone falling into this pattern?
Thanks,
Cora Layshun
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Dear Cora,
Yes, this appears to be true. Researchers at the University of Southern California say that falling for financial scams could be a first sign of early Alzheimer’s disease. The findings were published in the journal Cerebral Cortex and can be seen in this CNN newscast.
For the research, the USC team conducted two types of tests in a group of 97 people over the age of 50, none of whom showed obvious signs of cognitive troubles when they joined the study. In one test, all participants underwent high powered MRIs to look at the thickness of a brain area called the entorhinal cortex. This region is responsible for communication between the hippocampus (a center for learning and memory) and the medial prefrontal cortex, which regulates emotion, motivation, and other cognitive functions.
In addition to the MRI, all 97 of the participants took a test gauging their score, called the Perceived Financial Exploitation Vulnerability Scale (PFVS). The test is a standard way of assessing a person’s likelihood of getting involved in scams or other financial trouble. Researchers found that older adults with thinner brain regions linked to memory and decision-making — areas often affected early in Alzheimer’s — were more likely to be vulnerable to financial scams.
Additional highlights are as follows:
- Changes in how seniors value money could also be a warning call for loved ones to get help for relatives and warn of future disease.
- Brain changes that signal Alzheimer’s disease even before symptoms appear are linked to an increased vulnerability to financial scams.
- Assessing financial vulnerability in older adults could help identify those who are in the early stages of mild cognitive impairment or dementia, including Alzheimer’s disease.
- Unscrupulous con artists can reach out to seniors via phone or email with various scams that, in some instances, can wipe out retirement savings.
- Testing for financial vulnerability might be a means of spotting Alzheimer’s very early.
The findings offer hope that financial vulnerability could be used as a simple screening tool to help identify early signs of cognitive decline, especially in people over 70. Researchers believe that the financial scam vulnerability test might be a new means of catching the disease early. If you notice that a loved one has become more financially vulnerable, be sure he or she alerts their doctor and gets tested for cognitive decline early.
Where to Report Scams
If you or a loved one is a victim of a scam, it is important to report it. A recent AARP study says many of the scams that account for the nearly $30 billion lost go unreported, and the FBI is now urging anyone who encounters suspicious activity online to disengage and report the conduct to law enforcement. USA.gov has a helpful, interactive website that provides detailed information on where to report a scam, based on the type of scam.
Hope this helps!
Happy Holidays,
Angel
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