Explain the state experience with EFFIE Create Awareness of Elder Fraud

1. • Explain the state experience with EFFIE
• Create Awareness of Elder Fraud
• Your Take Away for implementing EFFIE in your state
• Relevance
• Reporting
• Resources
• Remedies
• http://www.slideshare.net/OKSecurities/amca-2014
Purpose of this presentation
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2. • Losing your money will make you sick
• Losing your money will hurt your
ability to buy quality health care
• Health care providers will lose paying
clients
Relevance
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3. • Who do you think is effected by
financial fraud?
• Persons with wealth
• Stock Market Investors
• Retirees
• Greedy individuals
• All of the above
Relevance
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4. • Seniors are often unable to protect themselves
• Caregivers/family members can be the
perpetrators of the fraud
• The victim most likely will not want to get this
individual into trouble
• The victim may be in a nursing home
• You may be the only person that can help the
victim
Seniors Need Help in reporting financial
fraud
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5. ElderlyClient Medical Professional
Contact ODS at:
(405) 280-7775 and
report suspected fraud
Confidential
• Leave message with
concerns and name of
potential victim
• Request a complaint
form
Contact ODS at:
(405) 280-7700
Go to our website,
www.securities.ok.gov,
and fill out a complaint
form
Engage private counsel
Reporting Financial Fraud
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6. Why would you not feel comfortable
reporting suspected elder financial abuse
using a secure confidential hotline number?
• Concerns about legal liability
• May cause more harm to the patient
• Do not want to get involved
• My supervisor will not allow me to report
Reporting
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7. Invest Ed® is your source of investor
protection in Oklahoma.
www.investedok.org
Your state securities enforcement
agencies can be found at
www.nasaa.org
Resources
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8. Types of Oklahoma Department of Securities
Legal Actions:
• Administrative
• Civil
• Criminal Referrals
Remedies
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