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      Seniors: know the facts about fraud and financial abuse

      Posted on April 24, 2012 at 1:04 PM


      Senior citizens are among the most vulnerable to fraud and financial abuse. Consumers over the age of 65 control 70 percent of the nation’s wealth, and crooks know it. In fact, each year con artists scam older Americans out of $2.5 billion.

      To kick off Seniors Week of Financial Literacy Month, the Minnesota Department of Commerce, the Minnesota AARP, and the Office of the Lt. Governor are joining forces to raise awareness of fraud targeting older consumers and provide Minnesota seniors the information they need to protect their finances from the threat of financial abuse.

      Lt. Governor Prettner Solon, Commissioner Rothman, AARP and Mall Walkers met at the Sears Court in the Mall of America this morning to learn the steps to take to protect themselves against fraud.  Seniors shared their personal experiences dealing with scams and frauds while walking together.  After the walk, Commissioner Rothman, Lt. Governor Prettner Solon, and the ARRP discussed common scams that target seniors and steps you can take to protect your finances.

      As Financial Literacy Month continues, the Governor and Lt. Governor participate at outreach events such as the Mall Walk to encourage Minnesotans to learn more about their finances and make informed decisions that secure a successful financial future. These efforts will make Minnesota a nation-leading force for financial education and empowerment.