With more than 7.3 million Americans over the age of 65 admitting they have been financially swindled, state securities regulators are teaming up on a number of fronts to stop con artists in their tracks.
Launched today, the Elder Investment Fraud and Financial Exploitation prevention campaign aims to educate medical professionals on how to spot older Americans who may be particularly vulnerable to financial abuse and then refer suspected investment fraud involving them to state securities regulators and local adult protective service agencies.
Several red flags include recent changes in appearance, if an elderly person has given a durable power of attorney to someone, if they have asked to change their will or if they are depressed.
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