Latest news with #AndreaSeidt
Yahoo
12 hours ago
- Business
- Yahoo
June is Elder Abuse Awareness Month
Jun. 8—Helping Ohio's seniors navigate the growing threat of financial exploitation COLUMBUS — This year, older Ohioans are at risk of losing more than $60 million to scammers and fraudsters. In recognition of Elder Abuse Awareness Month during June, the Ohio Department of Commerce Division of Securities and the Ohio Department of Aging are partnering to shine a spotlight on a growing issue involving the financial exploitation of older adults. In 2024, the Division of Securities received 302 scam- and fraud-related complaints from older Ohioans, which was up 22% from the previous year's 247 complaints. In addition, according to the FBI's Elder Fraud Report, Ohio had the sixth largest volume of complaints in the country in 2023, with losses exceeding $64 million. Meanwhile AARP found that, nationwide, more than $28 billion is stolen from individuals over the age of 60 annually, with three-fourths of those losses involving individuals the victim knows. In response to this alarming trend and the increased risk posed to older Ohioans, the Division is highlighting the warning signs of elder financial abuse to protect loved ones from becoming a statistic. These warning signs include: Unexplained financial changes, such as large withdrawals or unexpected fund transfers. Changes in banking practices, such as adding new names to accounts, or uncharacteristic attempts to wire money to unknown acquaintances. Unpaid bills, sudden non-sufficient fund activity, and unexplained purchases or debts. "Financial exploitation of the elderly is one of the most pervasive and heartbreaking issues we encounter at the Ohio Division of Securities," Securities Commissioner Andrea Seidt said. "The victims are often targeted by perpetrators who exploit their loneliness, trust, or lack of familiarity with modern technology. Recognizing the signs of this abuse is critical so we can protect our friends and loved ones from these crimes that carry devastating financial consequences." Older adults are particularly vulnerable to a wide variety of schemes, including romance scams, tech support impersonations, and grandparent scams. Perpetrators often use mail, phone calls, and online communication to trick seniors into handing over money, personal information, or access to their financial accounts. Once a victim is targeted, the financial losses and emotional toll can be severe. If you suspect either yourself or someone in your life has been the target of a financial scam, you should immediately contact the Ohio Division of Securities at 614-644-7381 or local law enforcement. In addition, the Division is highlighting the below resources for reporting fraud and securing assistance. Additional Resources to Protect and Address Elder Financial Exploitation —To report securities fraud, call the Division of Securities' Investor Protection Hotline at 877-683-7841. —Ohio's Adult Protective Services Referral Line is available at 855-OHIO-APS (855-644-6277). —The Ohio Attorney General's Elder Justice Unit can be reached at 800-282-0515. —For concerns about abuse in nursing homes, contact the Long-Term Care Ombudsman at 800-282-1206. You Might Like News Man in cape, underwear breaks into West Portsmouth Dollar General News Proctorville woman killed in WV crash News Nearly $200K awarded in Healthy Communities grants to Lawrence groups by Pallottine Foundation News 95-year-old woman killed in Pike County crash
Yahoo
11-02-2025
- Business
- Yahoo
Love is in the air — or is it scammers?
(WKBN) — Love is in the air — or is it scammers? The Ohio Department of Commerce Division of Securities offers a warning about the persistent presence of online romance scams, especially around Valentine's Day. These scams often occur on digital platforms like dating apps and social media where fraudsters take advantage of an individual's search for companionship in an attempt to steal their personal information and finances. Reported losses related to romance scams totaled $823 million in 2024, according to the FTC. Since Jan. 1, 2023, the Division has been involved in eight cases involving an alleged romance-related solicitation in Ohio. 'I can't think of anything riskier in the markets today than investing with your heart online. We need to keep our online relationships personal and our money professional,' said Ohio Securities Commissioner Andrea Seidt. Common warning signs of romance scams include: Reluctance to meet in person or via video — Scammers often avoid face-to-face contact or video calls as an attempt to hide their true identity. Long-distance relationship claims — Scammers might say they live far away or frequently travel as a way to discourage in-person visits. Exaggerated wealth or success — Fraudsters may boast about financial achievements, often using fake account screenshots, in an attempt to lure victims into 'exclusive' investment schemes. Pressure to provide money or invest — After building trust, scammers may ask for financial help or introduce fraudulent investment opportunities, often using fabricated evidence of quick returns. Request to keep conversations secret — Fraudsters may ask individuals to not share details of their investment discussions with family and friends. If this occurs, this can be a red flag that the person on the other end might have bad intent. One of the biggest red flags that your digital beau may not be bona fide: if you notice the conversation turning toward the topic of investments or money — especially if they request money from you. The Division of Securities offers these tips to protect yourself when online: Don't send your money to wallets that you do not control or offshore platforms unless you are willing to lose it. It is difficult, if not impossible, to get your money back once a scammer has control overseas. Research who you're interacting with online, including reverse image searches to see if the profile photo being used appears anywhere else and is connected to another individual. Meet new online friends in person at a public place to confirm they are who they say they are. Sadly, email, phone, and even video chats are no longer reliable ways to confirm identity because sophisticated scammers have technology that allows them to 'deep fake' their image and their voice to impersonate anyone, even you. Avoid transferring funds via unregulated apps or platforms based on tips or instructions provided by someone you've met online. The only person you should listen to is a licensed investment professional. Check the background of every person promoting online investments, including those who may falsely claim they are licensed, by using free resources like the SEC's Investment Adviser Public Disclosure database or FINRA's BrokerCheck. If your online friend isn't licensed, talk to someone who is. · Be wary of guarantees about 'low- or no-risk' investments and screenshots showing outlandish returns. Those terms are common hallmarks of fraud and almost everything can be faked today. If you suspect you've been targeted by a romance scam or investment fraud, contact the Division's Investor Protection Hotline at 1-877-683-7841 or email sgeneral@ Were you the victim of a scam and willing to go on camera and share your experience? If so, send us an email at web@ with a brief description of your experience and contact information. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
