Seniors are often inviting targets for financial fraud because of the substantial assets they've accumulated over their lifetimes. A 2010 Investor Protection Trust Elder Fraud Survey showed that more than seven million older Americans, one out of every five citizens over the age of 65 have been victimized by a financing swindle, involving everything from reverse mortgages to precious metals.
Here to look at some of the most common investment scams targeting seniors are Council on Aging of Southwestern Ohio Vice President of Communications Laurie Petrie; Director of Consumer Education with the office of the Ohio Attorney General, Melissa Smith; and, Chris DeSimio, a financial advisor with Wells Fargo Advisors in Cincinnati.
To learn more about how to identify and prevent scams targeting seniors, visit the FBI, National Council on Aging, the Investor Protection Trust, the Council on Aging, or the office of the Ohio Attorney General or Kentucky Attorney General.
Listeners are reminded that the information provided on today's show is general in nature and may not apply to their personal investment situations.