June 14, 2019
Department of Banking Recognizes World Elder Abuse Awareness Day
Offers Resources and Training to Spot and Report Suspected Financial Exploitation
HARTFORD — In recognition of World Elder Abuse Awareness Day (WEAAD) on June 15, the Department of Banking reminds financial professionals and the public throughout Connecticut to be on the lookout for elder financial abuse, including potential exploitation by family members or caretakers.
“Senior financial exploitation is a growing problem. Many in our older population are vulnerable due to social isolation and in many cases distance from family, caregiver, and other support networks,” Commissioner Jorge Perez said. “Taking the time to understand the warning signs and the steps that can be taken to report financial abuse are key to helping at risk populations.”
The North American Securities Administrators Association (NASAA), of which the Department is a member, has developed resources at www.ServeOurSeniors.org to help call attention to the red flags of fraud and suspected guardian financial abuse. For example, the “Guarding the Guardians” publication provides examples of exploitation and information on how to report suspected abuse.
Examples of suspected guardian abuse include:
- A financial education expo on Wednesday, February 20th, from 10:00 a.m. to 1:00 p.m. at the Legislative Office Building in Hartford. The expo will feature exhibitor tables promoting financial education programs, smart saving and investing, budgeting and more.
- A Connecticut Saves “Twitter Chat” on Monday, February 25th, from 10-11:00 a.m.
- A financial action fair for students at Hartford Job Corps Academy on Wednesday, February 27th.
Additional senior investor protection resources are available on the Department of Banking’s website.
Financial and investment professionals also are encouraged to contact the Department of Banking to request a Senior$afe presentation on how to spot and report suspected senior financial exploitation.
Commissioner Perez asks anyone with suspicions of possible senior financial exploitation to contact the agency at 860-240-8176.
Matt Smith, 860.240.8105