In Columbia, South Carolina, Attorney General Alan Wilson is highlighting the impact of social isolation on older investors in recognition of World Elder Abuse Awareness Day, observed on June 15. The issue at hand is the significant role that social isolation plays in making seniors more vulnerable to financial exploitation.
Scammers often take advantage of personal information from obituaries and social media to target seniors, especially during times of vulnerability such as health crises or after losing a loved one. These scammers may infiltrate trusted social circles to gain access to seniors’ lives.
Attorney General Wilson stated, “We are committed to empowering older investors in South Carolina and their loved ones with the tools they need to prevent investment fraud. Knowledge and vigilance are our best defenses against scammers.”
To combat these threats, the Attorney General’s Office emphasizes maintaining regular contact with seniors and encouraging open discussions about fraud within families. This approach aims to reduce isolation and protect seniors from financial scams.
The North American Securities Administrators Association (NASAA), which includes South Carolina as a member, offers resources for safeguarding against investment scams. Their advisories include information on how social isolation increases the risk of investment fraud.
Attorney General Wilson urges anyone suspecting senior financial exploitation to reach out to the Securities Division of his office by calling 803-734-9916 or emailing [email protected]. More resources can be accessed at InformedInvestorSC.com for submitting complaints or requesting investor protection speakers.
