Social isolation, whether voluntary or involuntary, significantly contributes to the financial exploitation of older investors. Scammers often target seniors during vulnerable times, such as health crises or after the death of a loved one, using personal details from obituaries and social media posts. Scammers may also exploit trust within seniors' social and support groups to become more involved in their lives.

To protect older investors, the Arizona Corporation Commission stresses to family members, friends and neighbors the importance of regular contact with seniors to reduce isolation and vulnerability. Open conversations about fraud and scams within families can also enhance seniors' security and reduce their risk of financial exploitation.

Also, develop a written refusal script that the senior can read when he or she is alone and someone is asking for money: “I don’t make any financial decision without first discussing it with my [trusted third-party relationship].”

The Commission’s Securities Division utilizes resources developed by the North American Securities Administrators Association (NASAA), of which the ACC is a member. These resources raise awareness on how to protect oneself from investment scams, including one on social isolation and the risk of investment fraud.

You can find additional information on wise investing and fraud prevention on the Commission’s investor education website, azcc.gov/az-investor.