Office of the Indiana Secretary of State works to increase awareness of elder financial abuse
Indiana’s investment watchdog reminds Hoosiers about World Elder Abuse Awareness Day, partners with IU Center for Aging Research to help protect senior citizens from financial exploitation
INDIANAPOLIS (June 14, 2011 ) – The Office of the Indiana Secretary of State continues an ongoing effort to protect aging Hoosiers from financial abuse during World Elder Abuse Awareness Day – Wednesday, June 15.
“The Indiana Office of the Secretary of State is committed to raising awareness of elder abuse and the preventative measures seniors can take in order to protect themselves from financial hardships caused by predators and con artists,” Indiana Securities Commissioner Chris Naylor said. “Our work with the Elder Investment Fraud and Financial Exploitation Prevention program is vital to the financial wellbeing of our senior citizens and Hoosier families.”
Indiana joins 22 other states promoting the Elder Investment Fraud and Financial Exploitation Prevention (EIFFE) program. The program aims to educate healthcare professionals about financial abuse of senior citizens and how to spot warning signs before they become victims. According to a survey conducted by the Investor Protection Trust in 2010, financial abuse impacts one in five Americans over the age of 65.
Indiana Investment Watch – a financial literacy program within the secretary of state’s securities division – is partnering with the Indiana University Center for Aging Research to host EIFFE workshops to educate healthcare professionals.
“As the number of older adults increases, the number who are vulnerable to financial exploitation also increases,” Dr. Chris Callahan, director of the Center for Aging Research, said. “Unfortunately, some of the diseases that affect the aging brain may make elders more susceptible to this type of exploitation. Training health care professionals to recognize at-risk patients adds another line of defense in protecting the financial security of our retirees.”
Helping to further educate the public about this important issue, Indiana Investment Watch will be participating in the second annual World Elder Abuse Awareness Day community expo at the Public Safety Academy in Fort Wayne this Wednesday. Starting at 9 a.m. and ending at 1 p.m., visitors can learn about the dangers of financial abuse which target senior citizens.
About Indiana Investment Watch
Indiana Investment Watch educates Hoosiers about the various types of investment and mortgage fraud and promotes financial literacy in Hoosiers of all ages. The program is not funded by taxpayer dollars, but rather by the money collected from civil fines in securities fraud cases.
For more information, please visit http://www.indianainvestmentwatch.com/. If you feel you have been the victim of investment fraud, please call the secretary of state’s securities division toll-free at 800-223-8791.
Deputy Chief of Staff
Office of Indiana Secretary of State Charles White