Introduction The population of the world is rapidly aging. Especially in the developed countries, the proportion of the elderly is increasing in the total population. In Japan, the proportion of people aged above the age of sixty in 1959 was 8.7%. This increased to 10.5% in 1969, 12.6% in 1979 and 16.9% in 1989 [Koichi, 1990]. This was expected to exceed 25% by the turn of the century. In Australia, the proportion of people above the age of 65 in 1991 was 11.3%; this was estimated to rise to 16.9% in 2021 and 20.1 percent in 2031. The elderly have been defined differently; they have been defined as people above the age of 65 years [Thomas, 1993]. In the United States, the demographics are also similar; in the year1900, only 4% of the population was aged above 65 years. In 1930, the proportion had grown to 5% and 9% by 1960; this represents a doubling of the proportion every thirty years. In 1994, the proportion was 12%; the US census bureau predicted that in the year 2020, the population over thirty years old will represent 20% of the population [Cross]. In the area of criminology, the study of the victim has been becoming as important as the study of the criminal [Heap, 2008]. The study of the victim can be used to create a fuller picture of the nature and motivation of crime. The study of the victim can be classified as “Victimology” (as opposed to criminology). The study is aimed at understanding the physical, psychological and financial effects of a crime on the victim [Heap, 2008]. There are thirteen victim classifications; the female, the young, the old, the tormentor, the depressed, the lonesome and heartbroken, the wanton, the minorities, the mentally defective, the immigrant, the dull normal, and the blocked, exempted and fighting. Carrying out victimization surveys to determine which section of the society is most affected by crime and the compilation of accurate data is of great importance to the formulation of policies that aid in combating crime. The Elderly Victim There is a consensus that the elderly are a low-risk crime group. However, with the growing population of elders in the community, the crimes committed against them are bound to increase. The key to all crimes involving the elderly is vulnerability; generally, they are weak and may form good targets from criminals who would normally victimize a younger person. The elderly are prone to crimes involving fraud, psychological abuse, financial exploitation, identity theft, and physical abuse [Bune]. In Japan, the intellectual offenses, that is embezzlement, fraud and forgery had twice the rate of criminal offenses against the elderly in 1988 [Koichi, 1990]. Thus the elderly are highly likely to become victims of fraud. Several factors make this section of the population susceptible to this category of crime. Usually, they have a considerable amount of money at their disposal; this is from a lifetime of saving and retirement benefits; this makes them serious targets for fraudsters. Secondly, usually they don’t have close relatives to turn to for advice and second opinion, all they have is the word of the fraudster. With the fluctuation of the financial markets, the allure of investment success