Senior$afe is a program designed to help combat the issue of senior financial abuse and exploitation in our community.
This program seeks to increase reporting of suspected abuse and exploitation to regulators and service agencies through a two-pronged approach. First, we want to help educate seniors and their families about the risk factors of abuse, and how to protect themselves from scam artists and fraudsters. Next, we want to recruit the help of those best-equipped to witness and identify financial exploitation when it happens: those in the financial industry. We train bank tellers, investment advisers, and sales representatives on how to spot the red flags of abuse and exploitation, and also provide the proper tools to report.
Senior financial exploitation and fraud is the illegal or improper use of a senior’s resources for another’s profit or advantage.
- Exploitation usually involves someone the senior knows, such as a family member or caregiver.
- Fraud is usually perpetrated by a stranger, such as a telemarketer or investment promoter.
Senior$afe for Consumers
The key to protecting yourself and your loved ones from financial abuse and exploitation is information and protective action. Learning about the risk factors and red flags of potential exploitation and fraud early on can help you protect yourself or a loved one from becoming a victim. Experts in elder fraud prevention believe that simple preventative steps can significantly increase financial safety and decrease the chances of becoming a target of exploitation or fraud.
Senior$afe for Financial Professionals
As part of the Senior$afe program, the Securities Division and the Financial Institutions Division are offering a training to New Mexico investment adviser and broker dealer firms, as well as financial institutions to educate client-facing professionals on how to identify possible red flags of abuse, and to instruct these firms on the best resources for making a report.
To request a presentation, call: 1.800.704.5533.