Securities Arbitration Lawyers BlogState Securities Regulators Report High Number of Senior Financial Abuse Cases
Securities regulators state that professionals should help seniors avoid being scammed
When it comes to investment scams, seniors are easy targets. According to a recent report from the North American Securities Administrators Association (NASAA), seniors were targeted in one-quarter of the enforcement actions in 2014, in cases where states track victims by age.
“Seniors remain a top target of investment fraud and protecting seniors from investment fraud and abuse is a key priority of NASAA and its members,” said William Beatty, NASAA President and Washington Securities Director. Beatty also noted that since 2008 when NASAA began tracking data collected by state securities agencies, one-third of all enforcement actions involved senior victims.