By Justin Udo

PHILADELPHIA (CBS) – A course was given Thursday in Philadelphia on what to do to prevent elderly people from getting ripped off.

The National Adult Protective Services Association hosted their 7th Annual Summit on Elder Financial Exploitation.

“We bring together the financial services industry, the regulatory industry the general public adult protective services to look at the huge problem of elder financial exploitation,” says Kathleen Quinn with NAPSA.

She says there are more than five million elder abuse victims in the country:

“Elder financial exploitation in particular is often combined with physical abuse, people are threatened and hurt in order to get their money.”

Quinn says if you suspect someone is financially exploiting an elderly person you should report it to Adult Protective Services:

“Biggest prevention tool for all of us is to not let older people get isolated. Go see your grandmother, go visit your aunt.”

She says it’s important to make sure somebody is seeing them regularly.