Who is Most Targeted in Investment Misconduct and Fraud?
According to an AARP Investment Fraud and Vulnerability Study, education and prevention efforts are needed to help reduce the risk of investors falling victim to investment fraud and misconduct activities, causing them to lose money and assets.
To understand the prevalence of investment fraud and misconduct, it’s critical to know who are the most vulnerable targets to these types of crimes and irresponsible acts. Here are the statistics every investor should know to keep their assets better protected.
- More investment fraud victims were over age 70, compared to general investors.
- Investment fraud victims are more likely to make investments remotely with salespersons previously unknown to them.
- 6 out of 10 investment fraud victims reported receiving at least one investment sales phone call each month, compared to 1 in 3 general investors.
- More than 53% of investment victims reported receiving 1 or more emails trying to sell them investments in a typical month, compared to 35% of general investors.
- Nearly 1 in 10 investment victims reported receiving more than 15 calls in a typical month.
- Compared to general investors, more victims were:
- More victims were male (81%)
- More victims were married (66%)
- More victims were veterans (33%)
Source: AARP Investment Fraud Vulnerability Study
Were You a Victim of Investment Misconduct? We are Here For You.
When brokers take advantage of particularly vulnerable individuals and engage in negligent acts causing financial losses, it can cause many devastating effects. When trust is broken, and you don’t know where to turn for help, it can leave you scared and hopeless. Know that you are not alone, and the team at Meyer Wilson is here to help you seek justice and hold financial institutions and brokers accountable for their actions.
We are here to support you through a difficult time and to help you recover your losses.