Pennsylvania Secretary Wiessmann Announces New Tool to Help Prevent Spread of Elder Financial Abuse

HARRISBURG, Pa., April 8, 2016 /PRNewswire-USNewswire/ -- During a presentation today with social services providers at Philadelphia's Center in the Park, Secretary of Banking and Securities Robin L. Wiessmann announced the release of a new tool that will help professionals working with senior citizens, retirement communities, and others help prevent the spread of elder financial abuse.

"As Pennsylvania's population grows older, more of our senior citizens are at risk of having their hard-earned retirement savings stolen," Wiessmann said. "Governor Wolf and I believe we need to do more to help those who work with our senior citizens identify signs of and prevent elder financial abuse. In our technological and financially complex age, financial abuse, fraud, and hoaxes have become the 'Crime of the 21st Century.'"

Through the PA Investor Education Facebook, the department will begin to promote "Investment Fraud Bingo" through a video presentation produced in cooperation with AARP Pennsylvania and the Investor Protection Trust. The video was shot during the playing of Investment Fraud Bingo at Garden Spot Village in New Holland, featuring testimony of several participants and commentary by Mary Bach, Chair of the AARP Consumer Issues Task Force.

"I am pleased to make this announcement at Center in the Park, one of the first venues to incorporate Investment Fraud Bingo into its programming. This new video tells the story of this game, which mixes learning, community, and fun to help senior citizens learn how to protect themselves from financial scams," Wiessmann continued. "We hope more social services providers will use the video, adopt the game for use with their clients, and help spread the word about this innovative approach to empowering our senior citizens."  

Governor Wolf's Consumer Financial Protection Initiative, announced last November, focuses on four issues, including providing educational programming to help senior citizens protect their retirements.

The Department of Banking and Securities Investor Education and Consumer Outreach Office can accommodate groups of 15 or more for Investment Fraud Bingo free of charge to the sponsoring group. Interested parties can call 717-783-4247 or email [email protected] for more information. Information on the department's educational presentations can be found online at www.dobs.pa.gov.

Media contact: Ed Novak, 717-783-4721

SOURCE Pennsylvania Department of Banking

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http://www.state.pa.us