Finance

Caring for the Mind and Wallet: Strategies to Protect Those with Cognitive Decline

Caring for an elderly loved one with dementia presents many challenges, one of the most difficult being the protection of their finances as cognitive abilities decline. Research shows that financial trouble often begins years before a diagnosis, with signs like unpaid bills, reckless spending, or repeatedly giving away money. Without intervention, these behaviors can deplete savings and lead to serious debt.  

For instance, investigations have found that elderly adults with dementia unknowingly donated millions to political campaigns, overwhelmed by persuasive fundraising tactics. Preventing these situations requires early conversations, observation, and practical safeguards. It’s essential to approach financial caregiving collaboratively, focusing on your loved one’s current cognitive abilities rather than simply reacting to a diagnosis.  

Experts recommend creating a financial plan, assigning a trusted power of attorney, and using tools like account alerts or trusted contacts at financial institutions to reduce risks. Small measures—like setting credit card limits, monitoring digital communication, and automating bill payments—can make a big difference. By being proactive and compassionate, families can help prevent financial harm and support their loved one’s well-being.

TECH

Meta Brings Back Facial Recognition to Fight Impersonation Schemes on Social Platforms

Three years after shutting down its facial recognition technology due to privacy concerns and regulatory pressure, Meta (META.O) announced on Tuesday that it is testing the service again to combat "celeb-bait" scams. The company will enroll about 50,000 public figures, automatically comparing their Facebook profile photos with images used in suspected scam ads. If matches are found and deemed fraudulent, Meta will block those advertisements. The enrolled individuals will be notified and can opt out if they wish.

The trial is set to begin globally in December but will exclude regions lacking regulatory clearance, including the EU, U.K., South Korea, and the U.S. states of Texas and Illinois. Monika Bickert, Meta’s vice president of content policy, emphasized the goal of providing protection for public figures, who can choose to participate or not.  

This initiative reflects Meta's effort to navigate the delicate balance of using potentially invasive technology to address growing scam concerns while minimizing backlash over its handling of user data. The company previously shut down its facial recognition program in 2021, citing societal concerns, and was recently ordered to pay Texas $1.4 billion for illegal biometric data collection. Simultaneously, Meta faces lawsuits for not doing enough to combat celeb-bait scams, which exploit images of famous individuals to mislead users into fraudulent schemes.

CRYPTO

Crypto Community Shifts Support to Republicans Ahead of Congressional Elections

Pro-crypto groups are poised to spend an additional $21 million on advertising to support Republican candidates ahead of the November 5 election, significantly outpacing their spending on Democrats. This marks the crypto industry's emergence as a powerful player in this election cycle, with over $54.6 million directed toward Republican campaigns compared to $33.7 million for Democrats, reflecting a 62% preference for the GOP. Fairshake, the industry’s main PAC, has endorsed candidates from both parties but shows a clear trend in funding. Recently, Fairshake secured an extra $800,000 from ConsenSys Software, potentially increasing its impact in the critical weeks leading up to the election. A major focus for crypto supporters is the Ohio Senate race, where over $40 million has been spent backing Republican Bernie Moreno against incumbent Democrat Sherrod Brown, a known critic of the industry. The funding strategy is aimed at punishing candidates who oppose crypto, while also supporting Democratic candidates like Reps. Ruben Gallego and Elisa Slotkin through its affiliated PAC, Protect Progress.