Department of Financial Institutions
Richmond Area Seniors Invited to Free Fraud Prevention Event

Press Release Date:  Tuesday, May 10, 2011  
Contact Information:  Kelly May, Public Information Officer
502-573-3390 x252
800-223-2579 x252
kelly.may@ky.gov
 


   FRANKFORT, Ky. (May 10, 2011) – Seniors from Richmond and the surrounding area are invited to a FREE workshop to learn how to protect themselves from investment fraud, insurance fraud, mail fraud, lending fraud and identity theft. Participants who register by calling 800-223-2579 will be provided with lunch, take-home materials and a chance to win door prizes.

   “This is a wonderful opportunity for Kentucky citizens to learn how to protect themselves in these tumultuous economic times,” said Gov. Steve Beshear. “I encourage seniors to take advantage of this free and unbiased information to help guard against financial fraud.”

   AARP research shows that baby boomers and older investors have the money to invest and are natural targets for a wide range of unscrupulous practices. The Senior Scam Jam is designed to raise awareness about the techniques con artists use, so seniors can recognize the tactics and protect themselves from fraud.

   The techniques scam artists use to sell inappropriate investments are typical of many types of fraudulent activities. That’s why the Senior Scam Jam events include partners such as the Department of Financial Institutions (DFI), Kentucky AARP, Department of Insurance, Attorney General’s Office, the United States Postal Inspection Service, the Better Business Bureau and the Cooperative Extension Service to provide information on avoiding fraud and protecting seniors and their finances.

   “The financial exploitation of the elderly can be as devastating as physical abuse,” said Attorney General Jack Conway. “My office is committed to protecting and educating Kentucky’s senior citizens so they won’t become victims of financial fraud.”

WHO:     Senior citizens in Richmond and surrounding areas
WHAT:   Free workshop on fraud prevention
WHEN:  Thursday, May 19, 2011
                9 a.m. to 2 p.m.
WHERE: Madison County Cooperative Extension Service
                 230 Duncannon Lane
                Richmond, Ky. 40475
HOW:     Register now by calling 800-223-2579


   The Richmond Senior Scam Jam is funded by a grant from the Investor Protection Trust (IPT). The IPT is a nonprofit organization devoted to investor education. Since 1993 the IPT has worked with the states to provide the independent, objective investor education needed by all Americans to make informed investment decisions. www.investorprotection.org

   Before investing, check with DFI, Kentucky’s state securities regulator, to verify if the investment opportunity is registered and if the seller is licensed. Call 800-223-2579 or visit www.kfi.ky.gov/public/invest.htm.

   DFI is an agency of the Public Protection Cabinet.  It supervises the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI's mission is to serve Kentucky residents and protect their financial interests by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities. DFI is committed to providing financial education and promoting awareness about the importance of saving, investing and making wise personal financial decisions.

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