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

1793817807 Law
November 4, 2026
Bank of America Faces More Than $1.21 Billion in Penalties Over Money Laundering and Sanctions Failures

Federal regulators have imposed more than $1.21 billion in penalties against Bank of America for anti-money laundering and compliance failures.

1793816912 Law
November 4, 2026
Wells Fargo and Merrill Lynch Agree to $4.4 Million Settlement Over Excessive Trading Commissions

Wells Fargo and Merrill Lynch will pay a combined $4.4 million to resolve allegations that they overcharged customers on small-dollar securities transactions.

1793645928 Law
November 2, 2026
FINRA Finds Florida Broker Violated Regulation Best Interest in Variable Annuity Exchanges

The Financial Industry Regulatory Authority (FINRA) has found that a Florida-based registered representative violated Regulation Best Interest (Reg BI) by recommending that eight retired clients exchange their variable annuities.