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SCC reminds Virginians of senior financial exploitation on World Elder Abuse Awareness Day

SCC reminds Virginians of senior financial exploitation on World Elder Abuse Awareness Day
augustafreepress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from augustafreepress.com Daily Mail and Mail on Sunday newspapers.

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SCC urges investors to exercise caution when using social media, online trading platforms

SCC urges investors to exercise caution when using social media, online trading platforms
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SCC encourages Virginians to use caution when investing online

SCC encourages Virginians to use caution when investing online
Published Saturday, Mar. 6, 2021, 10:28 am
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Powerful smartphones, countless apps, and online finance options have made investing more convenient than ever. With the click of a mouse or press of a button, Virginians can check investment account balances, buy investment products and services and much more while on-the-go.
These conveniences have, unfortunately, given scammers new ways to separate investors from their money. Especially during the COVID-19 pandemic, the State Corporation Commission encourages all Virginians to treat internet security seriously when they invest using online resources. ....

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National Consumer Protection Week: Herring, SCC highlight consumer resources

National Consumer Protection Week: Herring, SCC highlight consumer resources
Published Monday, Mar. 1, 2021, 10:06 am
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National Consumer Protection Week is underway, and Attorney General Mark Herring and the State Corporation Commission are highlighting the resources available to consumers.
The AG’s office works through its Consumer Protection Section to protect Virginians from being exploited by abusive, deceptive, predatory, or illegal business practices. Since 2014, CPS has recovered approximately $356 million in relief for consumers and payments from violators and transferred more than $59 million to the Commonwealth’s General Fund. ....

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Increased isolation during COVID-19 may increase risk of financial exploitation

Increased isolation during COVID-19 may increase risk of financial exploitation
Published Tuesday, Feb. 23, 2021, 11:41 am
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(© Alexander Borisenko – stock.adobe.com)
Social isolation, loneliness and increased reliance on the internet can create a perfect storm for the financial abuse and fraud victimization of seniors.
Social distancing and quarantines intended to protect against the spread of COVID-19 also have increased social isolation for many seniors, making them more vulnerable to financial exploitation.
“Financial abuse can happen anytime, but perpetrators often strike when seniors are most vulnerable, such as during a health or other crisis or after the death of a loved one,” said Ron Thomas, director of the State Corporation Commission� ....

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