Several private and state agencies are launching a series of forums that will be held across Nebraska which are designed to help fight fraud and educate investors.
Jack Herstein , assistant director of the Nebraska Department of Banking and Finance, says senior citizens are the primary target audience.
“They’re probably the #1 hit list on the fraudsters,” Herstein says. “Basically, the seniors own over 50% of the wealth in the country and in this seminar, we’re going to present tips for them to use to avoid fraud and also tips for them to do investments the proper way.”
Herstein says the forums will provide real-life examples of fraud cases as well as tools to identify red flags to help residents avoid becoming victims.
Elder financial abuse is the crime of the 21st century, according to Herstein. He says with a major shift in demographics, older adults have become a target for fraudsters.
In addition to the Nebraska Department of Banking and Finance, others involved in the forums include: the Nebraska Attorney General’s Office, the Nebraska Department of Insurance, A-A-R-P, and the Better Business Bureau.
“What each agency or division is going to do is give people tips which those divisions work with on how to avoid fraud,” Herstein says. “You might have identity theft, you might have insurance scams, you might have investment scams. Each individual will talk about ways to avoid these and basically help you create a better method of controlling your own investments.”
The forums are scheduled for Scottsbluff, Norfolk, Kearney, Grand Island and North Platte between now and October. They’re free and include a complimentary lunch.
Visit NDBF.Nebraska.gov for more information.
By Paul Hughes, WJAG, Norfolk