Beware of Free Meal Seminars
If something is too good to be true, it probably is. Free meal seminars target 60 -80 year olds looking for financial products such as life insurance, trusts, and annuities. Though many of the meals are legitimate, there are some that try to take advantage by using slick sales tactics. See how one woman and her group are helping people become better informed about their financial planning. Learn tips and tricks that are used by the salesman as well as red flags to look out for.
Affinity Fraud Awareness
For those nearing retirement, the friendships they’ve formed can be something to lean on later in life. But for a scammer, those connections can also provide the perfect way to hatch a scheme and make some money fast. Stephen Feaga from the Alabama Securities Commission recounts a recently closed case involving affinity fraud that all started with some simple pots and pans.
Elder abuse has been referred to as ‘the crime of the century’. Financial elder abuse alone costs seniors $2.9 billion in financial losses. For Amanda Senn, the pursuit of justice for victims of financial elder abuse is a top priority as is raising awareness of this awful crime.
Fighting Senior Fraud
Scammers–no matter how careful we are or how sophisticated we seem, many still fall vulnerable to their false promises. According to Director Joe Borg of the Alabama Securities Commission, seniors are an especially vulnerable group, but there are still ways they can protect themselves.