Category: Financial Exploitation

ATTORNEY NEWSLETTER San Mateo County financial elder abuse attorneys say that bank employees can play a significant role in preventing financial elder abuse. Bank workers can often be the first, and possibly only, people in an elderly person’s life who is in a position to detect financial exploitation. Financial exploitation […]

ATTORNEY NEWSLETTER The Financial Industry Regulatory Authority (FINRA) has launched a toll-free line to support senior citizens and advise them on financial matters. The FINRA Securities Helpline for Seniors is designed to help older investors get neutral, informed advice regarding their brokerage accounts and investments, and avoid seniors from becoming […]

ATTORNEY NEWSLETTER California financial fraud attorneys want to provide consumers with tips, tools, and resources to protect against the risks of purchasing deferred annuities. For more on deferred annuities and their risks, read here: /the-risks-of-deferred-annuities-and-what-youre-really-paying-for/. TIPS TO DETERMINE IF A DEFERRED ANNUITY IS AN APPROPRIATE INVESTMENT FOR YOU: -Research the […]

ATTORNEY NEWSLETTER Deferred annuities are a financial product that delays payments of income until the investor elects to receive them. This type of annuity has two main phases, the savings phase in which you invest money into the account, and the income phase in which the plan is converted into […]

ATTORNEY NEWSLETTER California stockbroker fraud attorneys say that the United States government is considering a new rule change that would help prevent stockbroker fraud. The United States government is reportedly considering a rule that would require stockbrokers to put their clients’ interests above their own. This would prevent a stockbroker […]

ATTORNEY NEWSLETTER California life insurance and annuity fraud attorneys warn consumers that insurance policy illustrations may be misleading and create heightened expectations for unrealistic results. Illustrations can be a useful way to demonstrate and understand how a policy, such as an indexed universal life policy (IUL), may work. However, they […]

ATTORNEY NEWSLETTER The insurance commissioners association has been working on new rules to limit captive reinsurance, and formed a new working group to study why captive reinsurance has now spilled over from life insurance into annuities. The group is led by Nick Gerhart, Iowa’s insurance commissioner. A recent New York […]

ATTORNEY NEWSLETTER The National Center on Elder Abuse wants to make the public aware of “The Grandparent Scam,” a scam targeting the elderly. The Grandparent Scam attempts to get an elderly person to wire a large sum of money, and losses are usually several thousand dollars per victim. In the […]

ATTORNEY NEWSLETTER Los Angeles detectives are urging victims of an elder abuse scam to come forward, after two women were arrested earlier this month and charged with attempted elder abuse, attempted grand theft and conspiracy. The two women, Margaret Souza, 48, and Teneca Wilson, 31, are alleged to have met […]

ATTORNEY NEWSLETTER FINRA, the national association of securities traders, has published new research on how financial abuse affects victims. The study aimed to look at financial fraud from the victim’s perspective, including their experiences, reactions, and the potential indirect financial costs and non-financial consequences of being defrauded. The report issued […]