JEFFERSON CITY— In recognition of World Elder Abuse Awareness Day – June 15 – Secretary of State Jay Ashcroft is reminding Missourians to be on the lookout for elder financial abuse.
“Each year fraudsters financially exploit Missouri senior citizens,” Ashcroft said. “We need the public’s support and partnership to bring increased attention to this serious matter.”
Wolfner Talking Book and Braille Library, within the Missouri State Library, provides accessible library services to Missourians with print disabilities – 60% of patrons are age 60 or older. Persons with disabilities are 1.5 times more likely to suffer from abuse or neglect.
The Securities Division works with many Missourians who have been financially exploited by family members and others who betray their trust. Many of these elderly victims rely on the assistance of others for their daily needs, making them vulnerable to fraud and abuse. A radio PSA promoting the secretary of state’s Vulnerable Citizens Services Unit is currently running throughout the state.
What to Watch For
Senior financial exploitation can be difficult to identify or recognize. The secretary of state’s Securities Division gives these five examples of exploitation warning signs:
- A new, overly protective friend or caregiver or the unexplained surrender of financial control.
- Fear or a sudden change in feelings.
- A lack of knowledge about financial status or the reluctance to discuss financial matters.
- Sudden or unexplained changes in spending habits, a will, trust, or beneficiary designations.
- Unexplained checks made out to cash, unexplained loans, or unexplained disappearance of assets (cash, valuables, securities, etc.). Watch for suspicious signatures on the senior’s checks or other documents.
How You Can Help – Contact, Inform, Act
- Contact: Be sure to communicate with older family members regularly. Contact is key.
- Inform: Let older family members know that fraudsters and scammers are always finding new ways to exploit and deceive. Help older adults become aware of the red flags of fraud, which remain consistent regardless of the fraud or scam.
- Act: Contact the Securities Division by calling the Vulnerable Citizens Services Unit at 855-653-7300 or visit www.missouriprotectsinvestors.com.
Ashcroft encourages Missourians to wear purple on the 15th to bring attention to this matter. “Together we can prevent financial elder abuse,” Ashcroft said.