FARMERSBURG, Ind. (WTWO/WAWV)— Indiana Secretary of State Diego Morales is reminding Hoosiers to look out for the elderly this upcoming June 15.
June 15 is recognized as World Elder Abuse Day and Secretary Morales wants you to be aware of the dangers surrounding individuals taking advantage of our elderly. Elder abuse comes in many forms but a common one deals with financial exploitation. They recommend educating elder individuals on practices such as naming a trusted contact for al accounts, shredding paperwork with personal information, and recognition of false claims by “bad actors”. Seniors should note that if someone calls and threatens you with arrest or legal action unless paid via wire transfer or gift card that you hang up immediately.
The FBI also has noticed a double digit increase in financial fraud involving elders. In the most recent data from the Internet Crime Complaint Center there has already been a recorded loss of 1.6 billion dollars just from January to May of this year. This is nearly $300 million more from the same time frame in 2023 and complaints of elder fraud have increased 14% from 2023.
“Respecting our elders is a basic core value,” said State Diego Morales, Indiana Secretary of State. “Unfortunately, we have bad actors who are targeting our most vulnerable Hoosiers. While these bad actors often prey on older, unsuspecting Hoosiers, my office offers resources to assist senior citizens and their families in avoiding these scammers intending to cause harm,”
The Securities Commissioner Marie Castetter says that they are continuing collaborative efforts with financial institutions, investment advisors, and law enforcement to try and keep senior Hoosiers safe from these types of crimes. Castetter said that knowledge is the best weapon against these wrongdoings and that knowing the red flags of fraud are important to stop them before it can happen. If you know a group or organization that would like to setup a presentation by the Securities Division addressing these issues of fraud give them a call at 317-232-6681.
