National Elder Financial Fraud Hotline To Be Launched By States, Doctors, Leading National Groups


It’s about time a hotline to report this stuff exists.  There is a definite need for more resources when it comes to elder financial abuse.

October 31, 2011 1:00 PM EDT

WHO:  State securities regulators, the nonprofit Investor Protection Trust (IPT), the Financial Planning Association (FPA) and the National Adult Protective Services Association (NAPSA).

WHAT: Announcement on November 1st of major national hotline campaign onNovember 10th to curb financial fraud targeting older Americans through a unique combination of state securities regulators, medical doctors (who are trained to spot the mild cognitive impairment warning signs of elderly susceptibility to financial swindles), and adults protective services professionals dealing with older Americans.  Special phone lines will be announced for people who have questions that can be targeted to adult protective services professionals, medical professionals, and financial planners.

WHEN: 1 p.m. EDT on Tuesday November 1, 2011 ahead of the November 10, 2011 hotline launch.

WHERE: You can join this phone-based news conference at 1 p.m. EDT onTuesday, November 1, 2011 by dialing 1 (800) 860-2442. Ask for the “Protecting Elder Americans from Financial Abuse Hotline” news event.

News event speakers will be:

  • Don Blandin, president and CEO, Investor Protection Trust;
  • Robert Lam, chairman, Investor Protection Institute, and acting chairman, Pennsylvania Securities Commission;
  • Kathleen Quinn, executive director, National Adult Protective Services Association (NAPSA);
  • Marvin W. Tuttle, Jr., executive director and CEO, Financial PlanningAssociation (FPA); and
  • Dr. Robert Roush, director, Texas Consortium Geriatric Education Center, Huffington Center on Aging, Baylor College of Medicine.

WHY:  With a grant from the Investor Protection Trust in 2008, the Huffington Center on Aging at Baylor College of Medicine and the Texas Consortium Geriatric Education Center developed a program called the Elder Investment Fraud and Financial Exploitation (EIFFE) Prevention Program. In 2009, the TCGEC and its affiliates in nine locations in Texas conducted a series of 10 pilot continuing medical education programs (CME) programs throughout the state. Based on the results of this pilot project, the IPT secured the participation of state securities offices in a total of now 27 states and jurisdictions to form a coalition to prevent EIFFE.

The 27 participating states and other jurisdictions are: Alabama;California; Colorado; Connecticut; Delaware; District of Columbia; Georgia; Idaho;Illinois; Indiana; Iowa; Kentucky; Maine; Michigan; Minnesota; Nebraska; North Carolina; New Jersey; New Mexico; Oklahoma; Oregon; Pennsylvania; Puerto Rico; Tennessee; Utah; Vermont; and Washington. The goal of this new IPT-formed alignment of organizations is to work with state securities regulators to coordinate CME offerings for health professionals to increase their clinical awareness of the issue addressed by the EIFFE Prevention Program and provide them with a proven screening tool and with effective referral routes.

MEDIA CONTACT: Patrick Mitchell, for IPT, (703) 276-3266 or pmitchell@hastingsgroup.com.

EDITOR’S NOTE: A streaming audio recording of the news event will be available on November 1, 2011 at approx. 5 p.m. EDT at www.investorprotection.org/.

The Investor Protection Trust (http://www.investorprotection.org/) is a nonprofit organization devoted to investor education. The primary mission of IPT is to provide independent, objective information needed by consumers to make informed investment decisions. Founded in 1993 as part of a multi-state settlement to resolve charges of misconduct, IPT serves as an independent source of unbiased and non-commercial investor education materials. IPT operates programs under its own auspices and uses grants to underwrite important investor education and protection initiatives carried out by other organizations. The IPT provides investor education at both the state and national levels. The Investor Protection Institute (http://www.protectinvestors.org/ ) is a nonprofit organization that promotes investor protection by conducting and supporting research and education programs.

SOURCE Investor Protection Trust, Washington, D.C.

From: http://www.StreetInsider.com

http://www.streetinsider.com/Press+Releases/National+Elder+Financial+Fraud+Hotline+To+Be+Launched+By+States,+Doctors,+Leading+National+Groups/6896734.html

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About Lark

I was born at a very young age.

Posted on November 1, 2011, in Elder Abuse, Fraud and tagged , , , , , , , , , . Bookmark the permalink. 2 Comments.

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