Banking and Securities, Aging Departments Launch New Video to Assist Professionals Identify, Prevent Elder Financial Abuse

HARRISBURG, Pa., June 15, 2016 /PRNewswire-USNewswire/ -- During a World Elder Abuse Awareness Day gathering today at the Governor's Residence, the Department of Aging recognized adult protective services investigators from counties throughout the commonwealth for their service in protecting older Pennsylvanians from abuse, neglect and exploitation. The event also included the Department of Banking and Securities announcing the availability of an updated video to help health care and legal professionals identify, report, and prevent elder financial abuse.

"Older persons are often the targets of scams, and they face increasing complexity in an ever-evolving world of financial products, services, and providers," Secretary of Banking and Securities Robin L. Wiessmann said. "Our hope is that this video will enable professionals who work closely with older clients to identify signs of elder financial abuse and take appropriate action to protect their clients."

The video aims to educate professionals about how to identify the signs of elder financial abuse. The video features the compelling stories of victims of elder financial abuse and their families, as well as testimony from medical experts and professionals working to protect senior citizens.

"Our intention in publicly recognizing the protective services investigators who every day respond to elder abuse reports, is embedded in the Wolf Administration's commitment to protect our most vulnerable residents from all types of abuse and neglect," said Secretary of Aging Teresa Osborne. "Working collaboratively with Banking and Securities affords us with additional opportunities to strengthen our efforts to ensure older adults are supported as they cope with the harm that has been done to them while seeking restitution and justice."

The video stresses four signs for professionals and family members to watch: social isolation; poor investment decisions; sudden changes of their will; and a reduced ability to make decisions. The video is available on the Department of Aging's YouTube channel: www.youtube.com/user/PaDepartmentOfAging and the Department of Banking and Securities Facebook: www.facebook.com/PABankingandSecurities.

The video was produced through a partnership of the Department of Banking and Securities, the Department of Aging, the Investor Protection Trust, the Investor Protection Institute, and the North American Securities Administrators Association.

Members of the public can contact the Department of Aging's hotline to report all forms of elder abuse, including elder financial abuse, at 1-800-490-8505. Consumers can also call the Banking and Securities consumer hotline (1-800-PA-BANKS) to file a complaint or ask questions about financial products, transactions, or companies.

MEDIA CONTACTS: Ed Novak (Banking and Securities), 717-783-4721
Drew Wilburne (Aging), 717-705-3702

SOURCE Pennsylvania Department of Banking and Securities; Pennsylvania Department of Aging