The Goal. To stop seniors from being targeted by fraudulent or malicious investments.
The Problem. Retirees are constantly being targeted by frauds for the money they worked hard saving their entire lives. Every year, thousands of seniors fall victim to financial abuse, losing most, if not all the savings they had. Many seniors can be trusting, especially since these professionals know exactly the right words to say at the exact right time. Retirees entrust their money to professionals who promise to take care of their finances, but they don't always act in their clients' best interests.
The Solution. Unscrupulous financial advisors are often successful in their attempt to trick seniors because there's a lack of information going around to warn seniors what to watch out for. Financial authorities should disseminate information frequently through digital and print media so the public will be kept aware of any misconduct in the industry.
Banks should also be more vigilant and apply more stringent measures to verify the identity of an individual or company opening an account. They should also immediately freeze suspicious accounts and check in constantly with their elderly clients especially when huge amounts of cash are being transferred.
If you think you've been scammed, get in touch with Girard Bengali, APC right away. Their team of Los Angeles securities litigation attorneys will investigate your situation very carefully and guide you on how to proceed to achieve the best possible outcome.
