The term "phishing" refers to fraudulent methods of obtaining personal information. There are a number of phishing methods that fraudsters employ, the most common being by email. Phishing emails are designed to look as though they come from legitimate companies (often banks and credit card companies) with the aim of tricking you into entering personal information such as: Online bank log-in usernames and passwordsPersonal Identification NumbersSocial Security Numbers Phishing emails often look very realistic at...
Seniors are one of the most vulnerable groups in our society. Far too often unscrupulous people prey upon this vulnerability. If you know a senior who may be experiencing abuse of any kind, it’s important to understand the warning signs and guide them to help quickly. Abuse by a Relative, Caregiver, or Neighbor Sadly, far too often a senior is targeted by someone that they know and trust. This could be a caregiver, a neighbor,...
Despite what you may believe, financial fraud does not always come in the form of strangers touting Ponzi schemes or investments that sound too good to be true. Instead, all too often financial fraud arises from people you trust - like the college classmate who just reached out on social media or the distinguished gentleman who recently joined your church group. This unique, and often devastating, type of financial fraud is so common it has...
The SEC recently approved new FINRA rules designed to protect seniors from financial elder abuse. Beginning February 2018 brokerage firms will be allowed to place a temporary hold on a disbursement of funds or securities when the firm has a reasonable belief of potential financial exploitation. Firms also will be required to take reasonable efforts to include the name and contact information for a trusted contact person on a customer’s account. Purpose of the FINRA Rule...
Seniors are one of the most vulnerable groups in our society. Far too often unscrupulous people prey upon this vulnerability. It is very important to understand the warning signs of financial elder abuse so you can immediately guide victimized seniors to help. Seniors Lose Billions of Dollars Every Year Through Financial Elder Abuse While most seniors are treated with the love, care, and devotion they deserve, studies show that elder abuse is all too common. According...