New rules are intended to assist financial institutions in reducing the amount of investment fraud targeting seniors and other vulnerable investors.
Senior investment fraud. Elder fraud. Elder financial abuse. Scamming older investors. No matter what it is termed, this unfortunate activity takes place at a far greater rate – with far greater losses – than necessary. In fact, a 2011 MetLife study found that the losses of elder financial abuse victims are at least $2.9 billion annually.