According to Foster’s Daily Democrat, the New Hampshire Bureau of Securities Regulation responded to recent, disturbing research from the Investor Protection Trust by warning older investors to be on the lookout for investment fraud and other financial exploitation.
The research, which was based on a survey of more than 750 experts who work with seniors and senior concerns, revealed that most of these professionals believe that senior financial fraud is a serious problem and have interacted with older victims of financial and investment fraud. In light of this research, the Bureau urges older investors to check out new investments with their state and federal regulators before investing and to ask more questions when presented with a new investment opportunity.
The New Hampshire Bureau of Securities Regulation also warns against certain types of products and investment plans that are particularly prone to fraud, including:
- Oil and gas scams
- Gold scams and other precious metal scams
- Real estate investment scams
- Unlicensed brokers and promoters
- Promissory notes
The Bureau encourages investors of all ages to thoroughly research products and companies before investing and to seek more information about selecting investments and investment professionals. Barry Glennon, the Director of the New Hampshire Bureau of Securities Regulation, explained that “New Hampshire seniors continue to be targeted by unscrupulous salespeople and scam artists. As the survey states, the best defense against fraud is a better-educated investor.”