WASHINGTON, D.C. (June 15, 2026) – As millions observe World Elder Abuse Awareness Day, the North American Securities Administrators Association (NASAA) continues to sound the alarm on the surge in financial exploitation using imposter scams and deepfake voices and videos. NASAA’s 2025 Enforcement Report shows that state and provincial regulators opened more than 1,650 investigations into senior financial abuse in 2024 alone, as fraudsters increasingly deploy AI-driven impersonation and sophisticated social media traps to target retirement nest eggs.
“Financial exploitation is evolving from cold calls and poorly written emails to highly personalized and sophisticated AI-enabled deception,” said NASAA President Marni Gibson. “These scams aren’t just stealing money; they are stealing the dignity and independence of older investors. State regulators are on the front lines fighting fraud every day, but prevention starts at the dinner table. We are urging families to take three concrete steps today to help protect their financial security.”
Three Steps to Defend Against Exploitation:
- Appoint a Trusted Contact: This is your account’s “emergency brake.” It allows your firm to reach someone you trust if they are unable to contact you or otherwise suspect your account is being compromised.
- Talk It Over Before You Act: Bad actors create a false sense of urgency to pressure victims into making quick decisions. Before sending money, opening a new account, or changing your investment strategy, discuss the opportunity with a trusted family member, friend, attorney, or financial professional.
- Verify Before You Trust: Fraudsters often use tactics designed to isolate seniors from their families. If an investment opportunity sounds “exclusive” or asks for total secrecy, it is a red flag. Ask questions including for paperwork on the investment and remember to always verify your advisor’s registration by contacting your state securities regulator at NASAA.org.
State and provincial regulators serve as the primary “cops on the beat” for Main Street investors. By operating within local communities, they identify emerging fraud trends and scams faster than any federal agency.
“We are not just reacting to fraud; we are working with the residents in our communities to prevent it,” added Gibson. “Whether it’s a digital asset scheme or a classic impersonation tactic, the best defense is a vigilant community.”
To learn more about protecting older investors or to report suspicious activity, visit NASAA.org/Senior-Investor-Resource-Center.
– NASAA –
About NASAA:
Organized in 1919, the North American Securities Administrators Association (NASAA) is the oldest international organization devoted to investor protection. NASAA is a voluntary association whose membership consists of the securities regulators in the 50 states, the District of Columbia, Puerto Rico, Guam, the U.S. Virgin Islands, the 13 provincial and territorial securities regulators in Canada, and the securities regulator in México. For more information, visit www.nasaa.org.
For More Information:
Fred Baldassaro, Director of Communications
fbaldassaro@nasaa.org | 202-737-0900
Karen Grajales, Manager, Communications and Investor Outreach
kgrajales@nasaa.org | 202-737-0900
