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TAMPA, Fla. — With the number of older people living longer and accounting for a growing amount of wealth, investment fraud toward senior citizens is on an alarming rise.

A July 2006 survey from the North American Securities Administrators Association found that while individuals aged 60 or older make up 15% of the United States’ population, they account for 30% of fraud victims. The survey of state securities regulators also indicated that an estimated 44% of all investor complaints are made by seniors. Unregistered securities, variable annuities, and equity-indexed annuities are the most pervasive financial products involved in senior investment fraud, regulators found.

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