The Washington State Department of Financial Institutions (DFI) is pleased to announce is taking part in a groundbreaking new “Elder Investment Fraud and Financial Exploitation Prevention Program” that will work with medical professionals in Washington to detect cases in which older state residents either are being scammed or are in danger of being ripped-off by an investment con artist.

The program will educate the large number of medical professionals in Washington who see older people in their practices about how to spot older Americans who may be particularly vulnerable to financial abuse. The goal is to refer suspected investment fraud involving these at-risk patients to state securities regulators and/or to local Adult Protective Services (APS) professionals.

State securities regulators and participating medical professionals now have available the project’s Clinician’s Pocket Guide and an informational brochure for patients/investors. The pocket guide – which outlines common red flags, how to ask about a patient’s financial capacity and what types of referral may be needed – can be used to train medical staff, as well as functioning as a handy reference card. The brochure tells how to protect against elder investment fraud and where to get help.

Medical professionals with questions about the new initiative by DFI should contact Lyn Peters, Director of Communications, Financial Education & Outreach, at 360.902.8731 or lyn.peters@dfi.wa.gov.