North Carolina is one of two states that will implement a pilot program to facilitate the reporting of suspected cases of financial abuse of the elderly. A new federal grant has created a secure, unified reporting platform to open lines of communication between the financial industry and government agencies to bring more cases of elder financial abuse to light.
Seniors are a frequent target for investment scam artists, but many such cases are not reported. The new reporting platform is designed to automatically route reports from broker-dealer firms to the North Carolina Secretary of State’s Office, Adult Protective Services, or local law enforcement.
Persons may report investment fraud to the Securities Division of the North Carolina Secretary of State’s Office by calling the N.C. Investors Hotline at 1-800-688-4507.
The N.C. Securities Division’s press release may be viewed here.
© Andrew Whiteman 2019
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