In observance of World Elder Abuse Awareness Day on June 15, 2026, Secretary of State Michael Watson urges Mississippians to educate themselves on the increasingly sophisticated threats of financial exploitation.
“We have continued to see our greatest generation targeted because of their vulnerability. Financial exploitation remains a dangerous threat to elderly adults, and I encourage all Mississippians to reaffirm their commitment to helping protect our senior investors,” said Secretary Michael Watson.
Financial exploitation has reached record statistics, particularly among older Americans. According to NASAA‘s 2025 Enforcement Report, securities regulators processed over 3,600 complaints involving older investors and opened over 1,650 investigations connected to senior financial exploitation and investment misconduct.
With the prevalent uses of digital asset schemes, social media fraud, and AI-enabled impersonation scams, financial exploitation is one of the fastest-growing forms of elder abuse. Elderly adults frequently encounter criminal efforts to exploit their savings and financial resources.
Mississippians should take the following steps to protect themselves:
- Name a trusted backup contact for your brokerage account.
- Should your financial firm suspect fraud and is unable to reach you, it will contact someone you trust.
- Leverage the Senior Safe Act, which provides a framework for financial professionals to report suspected exploitation to state regulators without fear of violating privacy rules.
- If you suspect a senior is being targeted, report locally and contact your state securities regulator immediately.
- Early reporting is the most effective action to recover lost funds.
World Elder Abuse Awareness Day is recognized annually on June 15 as part of Elder Abuse Awareness Month.
If an individual claims to be a financial broker or advisor, Mississippians should always verify his or her status by contacting the Secretary of State’s Office or using the online search tool.
For questions or to report a suspected case of financial exploitation, contact our Securities Division at Securities.CustomerService@sos.ms.gov or (601) 359-1334.