Older Americans and Investment Fraud: 10 of the Best Resources to Protect Yourself and Your Parents/Grandparents

20-Member Alliance Highlights Top Resources for Older Americans and Their Family Members to Protect Themselves and Their Loved Ones from Scams and Swindles

WASHINGTON, June 15, 2011 /PRNewswire-USNewswire/ -- How can older investors protect their nest eggs from investment fraudsters?  If you have parents or grandparents who are at or near retirement age, have you talked to them about the danger of financial swindles?  What do older investors need to know in general about spotting and avoiding investment fraud?  

Today, the nonprofit Alliance for Investor Education (AIE) outlined 10 of the best Web-based resources for older investors and their family members about how to spot and protect themselves from investment fraud.  The Alliance's new "Older Americans & Investment Fraud: Protecting Yourself, Protecting Your Loved Ones" is available at http://www.investoreducation.org/elderinvestmentfraud.  AIE is the organization of the United States' leading financial-related foundations, nonprofit organizations, associations and governmental agencies.

Alliance for Investor Education President Sue Duncan, who also serves as vice president of the ICI Education Foundation (ICIEF) at the Investment Company Institute, said:  "With the Baby Boomer generation just starting to retire, having saved and invested for years, scammers are looking for ways to take advantage of those nest eggs.  The Alliance for Investor Education wants to make sure older Americans can spot red flags when investing.  Family members also need to be aware that their parents and older relatives may be at higher risk of being taken advantage of by fraudsters and should know how to protect their loved ones."

The new "Older Americans and Investment Fraud" section of the AIE Web site features the following 10 top resources for consumers:

1. Caring for Loved Ones - http://bit.ly/kpVMWJ, Securities and Exchange Commission.
2. My Retirement Paycheck - http://bit.ly/ihgsIk, National Endowment for Financial Education.
3. Fighting Fraud 101: Smart Tips for Older Investors http://bit.ly/mobN4s, Financial Industry Regulatory Authority/FINRA Foundation.
4. Elder Investment Fraud and Financial Exploitation Prevention Program - http://bit.ly/je6Kcx, Investor Protection Trust.
5. Family and Finances: Start the Dialogue - http://bit.ly/lOR7OY, American Association of Individual Investors.
6. Important Questions to Ask Aging Parents - http://bit.ly/kTMoVQ, 360 Degrees of Financial Literacy/American Institute of Certified Public Accountants.
7. Senior Investor Resource Center - http://bit.ly/mBXS2F, North American Securities Administrators Association.
8. Consumer Guide to Financial Self-Defense - http://bit.ly/jSjVMc, CFP Board.
9. 10 Ways To Avoid Investment Fraud - http://bit.ly/jQREfy, CFA Institute.
10. Watch Out For These Warning Signs of Fraud - http://bit.ly/k84aKW, Commodities Futures Trading Commission.

For an overview of the rest of the best investor education resources on the Web from AIE members, go to http://www.investoreducation.org.

ABOUT AIE

Founded in 1996, the Alliance for Investor Education Web site at http://www.InvestorEducation.org provides investors with access to a full range of information they need to make wise investment decisions. The 20-member Alliance for Investor Education is dedicated to facilitating greater understanding of investing, investments and the financial markets among current and prospective investors of all ages. We pursue initiatives for education and join with others to motivate Americans to obtain objective information and increase their knowledge and understanding of investing.

Full members of the Alliance include: American Association of Individual Investors, American Institute of Certified Public Accountants/360 Degrees of Financial Literacy, Council for Economic Education, CFA Institute, Certified Financial Planner Board of Standards, Inc., EBRI/ASEC, Financial Industry Regulatory Authority, Investment Company Institute Education Foundation, Investor Protection Trust, National Association of Real Estate Investment Trusts, National Endowment for Financial Education, National Futures Association, Options Industry Council, Retirement Security Project, and the Securities Investor Protection Corporation.

The U.S. Securities and Exchange Commission, U.S. Commodity Futures Trading Commission, the U.S. Federal Trade Commission's Bureau of Consumer Protection, the Board of Governors of the Federal Reserve System, and the North American Securities Administrators Association are the governmental and quasi-governmental advisors to the Alliance.

SOURCE Alliance for Investor Education, Washington, D.C.