News & Press Releases

National Effort Formed to Protect Seniors From Investment Fraud And Financial Scams

NIC joins effort led by Financial Industry Regulatory Authority to fight financial fraud targeting seniors

Annapolis, Md. (August 22, 2017) –To address significant financial fraud targeting America’s seniors, the National Investment Center for Seniors Housing & Care (NIC) and other leading seniors housing organizations have partnered with the Financial Industry Regulatory Authority (FINRA) to provide free resources to nearly 8,000 seniors housing communities across the United States. These resources, tools and on-site education are provided to seniors housing executive directors to help address the $50 billion lost in financial fraud schemes, annually.

“Older individuals living in seniors housing communities – especially those with extra financial resources – are too often targeted for investment fraud by scammers, and sometimes even family members,” said Brian Jurutka, president and CEO of NIC. “By supporting this effort, we provide communities critical, free information they need to educate and protect their residents from this financially and emotionally devastating problem.”

After initial conversations with FINRA about their initiative to raise investor awareness about fraud schemes that target seniors, NIC’s leadership approached LeadingAge, the American Seniors Housing Association (ASHA), and Argentum about participating in a joint education initiative to better serve their constituents. The four organizations came together to support FINRA in providing high-quality practical resources that seniors housing communities can provide their residents and families.

“Joint initiatives with valuable partners like LeadingAge, Argentum and ASHA strengthen our whole industry,” said Jurutka. “We look forward to finding additional ways to partner and broaden our bandwidth to better serve seniors and their families.”

For more information, please visit nic.org.

Contact: Biba Aidoo, baidoo@nic.org; 410-267-0504

The National Investment Center for Seniors Housing & Care (NIC) is a 501(c)3 organization established in 1991 whose mission is to enable access and choice by providing data, analytics, and connections that bring together investors and providers. For more information, visit www.nic.org, and follow NIC on Twitter.

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