Of course older folks can be defrauded...particularly when they're known to be compromised mentally or intellectually or when they're physically dependent on others (cancer,stroke,lung disease,etc).But lacking any such scenario I'll bet that it doesn't apply to *all* matters financial...and maybe even to *no* matters financial.IIRC the laws of this country recognize the right of older people to make decisions for themselves in most situations.
It does apply to all financial matters. Particularly signing over a $100k home. The elderly person does not have to accept help, particularly if they are found to be found of sound mind.