Texas Border Business
Texas Border Business / Mega Doctor News
AUSTIN, Texas — The Texas State Securities Board (TSSB) joined organizations across the United States on June 15 in recognizing World Elder Abuse Awareness Day (WEAAD), an annual observance focused on raising awareness of the abuse, neglect, and financial exploitation of older adults.
Report Elder Abuse to the agency’s Enforcement Division at (512) 305-8300.
According to the TSSB, financial exploitation remains one of the most common forms of elder abuse. The agency said fraudsters increasingly target senior Texans through investment scams, digital asset schemes, impersonation fraud, romance scams, social media solicitations, and other deceptive practices to steal retirement savings and lifelong investments.
The TSSB said it continues to protect Texas investors by investigating securities fraud, pursuing enforcement actions, and educating the public about emerging threats.
“Financial exploitation can devastate older Texans and their families,” said Deputy Commissioner Cristi Ramón Ochoa. “The Texas State Securities Board is committed to protecting senior investors through aggressive enforcement, investor education, and strong partnerships with financial professionals, caregivers, and law enforcement. We encourage all Texans to remain vigilant and report suspected fraud as quickly as possible.”
The agency encouraged senior Texans and their families to take several steps to reduce the risk of financial exploitation. These include designating a trusted contact through a brokerage firm or investment adviser, remaining alert to warning signs such as unsolicited investment offers, promises of guaranteed returns, pressure to act immediately, or requests to keep investment decisions secret, and consulting trusted family members, financial professionals, or legal advisers before making significant investment decisions or transferring funds.
The TSSB also emphasized the importance of reporting suspicious activity promptly. According to the agency, early reporting may help prevent additional losses and increase the likelihood of recovering assets. Individuals who suspect financial exploitation or investment fraud are encouraged to contact the Texas State Securities Board.
Since its founding, the agency has worked to protect investors and maintain confidence in Texas capital markets through enforcement actions, examinations, registration oversight, and investor education initiatives. The TSSB said it remains focused on safeguarding Texans from fraudulent investment schemes.
Additional information about investor protection and fraud prevention is available through the Texas State Securities Board. The agency’s Enforcement Division can be reached at (512) 305-8300.
