Sadly, older adults are increasingly being targeted by con artists and fraudulent investors. Please see this heartbreaking story:
Investment scams on the rise among boomers
- The number of enforcement actions involving senior scams doubled from 2009 to 2010.
- Boomers and older seniors are targets because they have accumulated wealth.
- Web tools can be used to check out securities and the backgrounds of hucksters.
Con artists are targeting the life savings of baby boomers and older seniors in a wave of investment scams.
State securities regulators are reporting a surge of investment fraud against investors ages 50 and older, according to the North American Securities Administrators Association, a voluntary association of state securities agencies responsible for grass-roots investor protection.