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State office urges screening senior patients for financial abuse
e-Reports, April 18, 2011
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Local workshops to train you begin soon – part of a nationwide effort Untitled document

The Indiana Secretary of State’s office wants your help to protect seniors from investment scams and financial abuse. The newly launched initiative is part of the nationwide Elder Investment Fraud and Financial Exploitation Prevention Program (EIFFE), which has been adopted in 21 other states.

Fast Fact
One in five older Americans say they have experienced financial exploitation or have been targeted by someone trying to defraud them of their hard-earned savings.

Source: 2010 Investor Protection Trust Elder Fraud Survey

The program aims to educate you and other medical professionals about how to spot seniors who might be vulnerable to investment fraud due to mental impairment. It also teaches you how to refer patients to securities regulators and adult protective services.

“The more awareness that can be brought to screening senior patients for signs of financial abuse, the more likely our office will be able to help potential Hoosier victims before it’s too late,” noted Indiana Securities Commissioner Chris Naylor.

The EIFFE Prevention Program was developed by Baylor College and piloted in Texas. The nationwide effort is a collaboration of the Investor Protection Trust, the Investor Protection Institute, the North American Securities Administrators Association and the National Adult Protective Services Association.

The Indiana Secretary of State’s Office plans to hold training sessions in hospitals around the state and at specialty society meetings throughout the year.

Read more about the initiative here.

Questions you might ask senior patients
  • Who manages your money day to day?
  • Do you run out of money at the end of the month?
  • Do you regret or worry about financial decisions you’ve recently made?
  • Have you given power of attorney to another person?
  • Do you have a will? Has anyone asked you to change it?
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