Almost 400 people called during national call-in day for elder fraud.
On Nov. 10, almost 400 people from 33 different states, including North Carolina, took advantage of an opportunity to talk with financial, medical and/or adult protective services representatives in an effort to combat elder financial abuse.
Advertised as a National Call-In Day, the day-long program was sponsored by the Investor Protection Trust (IPT) in association with the Investor Protection Institute, the Financial Planning Association (FPA), the National Adult Protective Service Association (NAPSA) and Kiplinger’s Personal Finance magazine. The call-in program is just one of the national events planned around the Elder Investment Fraud and Financial Exploitation (EIFFE) Prevention Program.
EIFFE is a two-year project funded by a grant from the Investor Protection Trust that seeks to raise awareness of financial abuse among the elderly primarily by training physicians and their staff members to be more attentive to the signs of such abuse.
Medical professionals are encouraged to incorporate simple questioning into their in-take routines and note the red flags of potential financial abuse during clinical observations of their elderly patients. When abuse is suspected, the medical professional is trained to make a referral to Adult Protective Services (APS) representatives located within their local county Department of Social Services office. If APS officials suspect investment fraud is involved, then they are to make a referral to the North Carolina Securities Division for review and possible investigation.
On National Call-In Day, callers could call one of three special phone numbers. One number was for questions related to personal financial security. This line was staffed by members of the Financial Planning Association and, according to the Investor Protection Trust, received 30 percent of the calls.
A second number was reserved for medical questions and was staffed by health care professionals. The IPT reports that it received 23 percent of the calls.
The third line was set up for calls concerning elder financial abuse and ways to keep oneself or loved ones from falling victim. This line was staffed by APS representatives and received 47 percent of the calls according to the IPT.
The IPT further reports that North Carolina ranked sixth highest out of the 33 states in the number of calls generated. Callers from Florida, Kentucky, Maryland, California and Virginia, respectively, rounded out the top five.