Knowledge is power when looking to prevent or address elder financial fraud
Sadly, it seems as though a week can’t go by without elder financial fraud making the news. Whether it’s at the hands of a family member or a financial professional, elder financial abuse continues to be rampant in the U.S.
One of the best ways for you or your older loved ones to avoid being victimized by elder financial fraud and abuse is by being vigilant, and you can do this by staying informed. Here are some excellent resources that can provide you with valuable information:
National Adult Protective Services Association (NAPSA)
NAPSA is a nonprofit organization that acts as a forum for people who have been the victims of elder abuse. Through information sharing and problem solving, NAPSA aims to improve the quality of life for victims and also prevent abuse from happening. Here you can learn about financial exploitation and find help in your area.
National Committee for the Prevention of Elder Abuse (NCPEA)
The goal of NCPEA is to promote research, education, and awareness of elder abuse and improve prevention and response. They do this by creating a dialogue with professionals that represent a number of different areas, including healthcare, social services, and finance.
Consumer Financial Protection Bureau (CFPB)
The CFPB is a government agency that works to make sure financial institutions treat everyone fairly. The agency aims to protect consumers from deceptive or abusive practices and holds offending companies responsible for their actions. Their website contains a wealth of information on research, compliance, and educational resources.
Elder Financial Protection Network (EFPN)
Recognizing how severe elder financial abuse has become, the EFPN is dedicated to helping people learn how they can avoid becoming victims. They offer information on an assortment of topics, including common types of abuse, who typically preys on elderly people, and warning signs to look out for.
Financial Crimes Against the Elderly Guide
Although created in 2003, this guide includes important information that is still relevant. It discusses financial crimes perpetrated against the elderly in great detail, including a clear description of the problem, the risk factors involved, and how people can avoid becoming victims.
American Bar Association on Elder Abuse
If you are interested in the legal aspects of elder fraud, the ABA site is an excellent resource. Here you can learn about the role of the judicial system in elder fraud, as well as laws and specific court cases.
Educating yourself on elder financial fraud can be crucial in preventing it from happening to you. But if it has already occurred, you can’t be silent. It is important to take action not only for you, but to help possible future victims. If you believe a broker or other financial professional caused you to lose money through fraudulent actions, contact the Silver Law Group.
Investment losses may be able to be reclaimed through securities arbitration or other legal action. To get the process started, talk to one of our experienced securities arbitration attorneys by calling 800-975-4345 or filling out our online form.