|
What's New?
RSVP Sponsors “Seniors
Against Investment Fraud” Program
Investment fraud is big business. Last year over
24 million adults fell victim to fraud. Here in
Iowa over the last five years, Iowans lost over
$20 million to con artists. Older
citizens are the primary target.
The Iowa Insurance Division, in partnership with
RSVP, is sponsoring the “Seniors Against
Investment Fraud” program, also known as “SAIF.”
SAIF is a community-based education program that
trains RSVP volunteers to teach seniors how to
spot and avoid a variety of investment fraud
schemes. SAIF is designed utilize volunteers to
teach investor education by giving presentations
and disseminating SAIF outreach materials to the
target populations.
SAIF volunteer presenters will also provide
resources to help citizens determine the
legitimacy of individuals and companies with
whom they are considering investing their money;
and can refer victims of investment fraud to
appropriate resources for counseling.
Funding for the SAIF program comes from legal
settlements of securities analyst
conflict-of-interest cases.
RSVP volunteers in Clay, Dickinson, Emmet,
Kossuth and Palo Alto counties have been trained
and are ready to make presentations to groups of
people who are predominantly 50 years and over
including service clubs, church groups,
community organizations, etc.
The SAIF volunteers are also willing to staff
booths at health fairs, county fairs and other
events. To schedule a presentation, or to find
out more about SAIF,
contact your county RSVP coordinator.
Some facts about investment fraud include:
-
Older Americans (50+) have a
greater need for investor education because
they have nest eggs, own their own home and
have excellent credit, all of which make
them the ideal targets for financial con
artists.
-
Older victims of investment
fraud are less likely to report the crime.
-
Research has indicated a vast
majority of American investors do not appear
to possess the basic investor survival
skills needed to build their savings into
their retirement nest egg.
-
Over 75% of investors failed
to demonstrate basic investment skills.
indicating it’s very important to increase
their knowledge of investing.
-
Over 75% of seniors are
unaware that the Iowa Insurance Division can
help them spot and avoid financial fraud, or
any other scams.
-
More than 90% of investors
believe there is an agency that insures
people against losing money as a result of
investment fraud.
Do
you have an email address?
In order to
communicate more efficiently with our
volunteers, and to save postage and paper, we’d
like to use email whenever possible. If you use
email regularly, and would like to receive email
messages from RSVP, please send your email
address to us at:
RSVP@IowaLakes.edu. |
