On July 12, 2016, the National Institute on Aging published an article on the use of brain scans to provide insight into older adults’ loss of financial decision-making skills and potential for financial abuse. 2012 Beeson Scholar and expert on research in the area of correlation between brain measures and impaired decision-making in older adults, S. Duke Han, PhD, offered insight on the topic.
As older adults lose at least $2.9 billion a year to scams, fraud, theft, and other misdeeds, elder financial abuse is a widespread issues that scientists have linked to other signs of reduced cognitive ability. To better understand and strengthen the brain against financial risk, scientists are using magnetic resonance imaging to identify brain areas that might be associated with a reduced ability to handle financial affairs.
As Dr. Han states, “Ideally, scientists could find ways to strengthen the brain to keep seniors functioning better so they are less likely to become victims of financial abuse.”
Duke Han, PhD, is a diplomat of the American Board of Professional Psychology in clinical neuropsychology, a member of Global Council on Brain Health, an associate professor of behavioral sciences at the Rush Alzheimer's Disease Center and associate professor of family medicine at the University of Southern California.
For more information on the risk factors associated with elder financial risk, read AFAR Medical Officer, Richard Besdine’s Huffington Post 50 blog post. “Elder Financial Exploitation: A Crime AND a Serious Health Risk” here.
