DALLAS: Grown-up children are stealing millions from their elderly parents through abuse of power of attorney, KPMG reveals.
The firm’s bi-annual Fraud Barometer shows that fraud on families by one of their own – typically a baby boomer – rocketed by 384% in the six months to end June 2015 when compared to the same period last year.
KPMG found that 72% of familial fraud was committed by individuals over the age of 45 and suggests that they may have taken matters into their own hands through frustration at having to wait for their inheritance.
“Fraudsters in the family are abusing their intimate knowledge and close connections to steal from partners and parents,” said KPMG UK forensic partner Hitesh Patel…