Tr?id=566623520170033&ev=PageView&noscript=1

Regulators Report Surges In Investment Scams Targeting The Elderly

Posted on November 1st, 2022 at 1:14 PM
Regulators Report Surges In Investment Scams Targeting The Elderly

From the Desk of Jim Eccleston at Eccleston Law.

The Federal Trade Commission (FTC) has announced that older investors lost $147 million due to investment scams in 2021, which constitutes a massive 213% increase from 2020.

The schemes primarily involved investment seminars and advice, stocks and commodity futures trading, art, crypto, and rare-coin investments. According to the FTC, the median individual loss for people age 60 and older was $6,800 per instance of investment fraud. Furthermore, older investors lost a total of $341 million online, according to regulators.

State securities regulators also have reported a 70% increase in fraud related to digital assets in 2021, according to an enforcement report published by the North American Securities Administrators Association (NASAA). Additionally, the depressed market is helping crypto fraudsters as they primarily attempt to convince elderly investors, who are concerned about running out of retirement funds, that crypto could provide them with a better financial outlook, according to Amanda Senn, deputy director of the Alabama Securities Commissions.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, advisors, law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

1778171646 Law
May 7, 2026
FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.

1778084309 Law
May 6, 2026
FINRA Outlines Key Rulemaking Priorities and Recent Developments in Quarterly Agenda

The Financial Industry Regulatory Authority (FINRA) recently released its Quarterly Regulatory Policy Agenda, offering a detailed view of its rulemaking priorities, pending proposals, and recently approved regulatory changes.

1778000603 Law
May 5, 2026
Commonwealth Financial Network Resolves SEC Conflict of Interest Case

Commonwealth Financial Network has agreed to pay $5 million to resolve a long-standing conflict of interest case brought by the Securities and Exchange Commission, according to reporting by ThinkAdvisor.