2/12/2015 10:14:43 AM
For Immediate Release:
SAINT PAUL, MN – Commerce Commissioner Mike Rothman was in Cannon Falls yesterday to discuss fraud and financial abuse aimed at older Minnesotans and vulnerable adults. Commissioner Rothman was joined by Commerce Assistant Commissioner of Enforcement Martin Fleischhacker, and Commerce Fraud Bureau Director Michael Marben.
Protecting Minnesota’s seniors and vulnerable adults from financial abuse will remain a top priority,” said Rothman. “One vital way we can prevent fraud is helping people know how to spot it and what to do if they think they are being targeted.”
Rothman, Fleischhacker, and Marben spoke to about forty people at the monthly TRIAD meeting. TRIAD is a partnership between Cannon Falls citizens and local law enforcement. They discussed common fraud and scams aimed at seniors, how to prevent becoming a victim, and what to do if they are targeted.
Commissioner Rothman also discussed the Vulnerable and Older Adult Financial Abuse Protection Act proposal included in Governor Mark Dayton’s budget proposal for the Department of Commerce. If enacted, the proposal would require financial institutions to report suspected financial abuse among older and vulnerable adults and create a Senior Trust Fund that will be used to for education, outreach, and training among financial industries and consumers in Minnesota. It also would increase penalties for those who perpetrate financial crimes against older and vulnerable adults, and give Commerce-regulated entities additional tools to be able to protect their customers in situations where a financial crime is suspected.
The Department of Commerce, led by Rothman, has partnered with local chapters of TRIAD across the state to help educate older Minnesotans about the red flags of financial fraud and abuse. In addition to yesterday’s meeting in Cannon Falls, Rothman and his staff have spoken at TRIAD events in Itasca, Pope, Cass, and Douglas counties. Commerce is also partnering with AARP, the Better Business Bureau, Lutheran Social Services, the Elder Justice Center and others to protect Minnesotans from financial abuse.
The Minnesota Department of Commerce is here if you have questions about insurance, or believe you have been the victim of a scam or fraud. Report the fraud, so that others do not fall victim. If you think you have been a victim, contact the Consumer Services Center at 651-539-1600 or (800) 657-3602.
Complaints can also be sent by email to email@example.com or by mail to Minnesota Department of Commerce, 85 7th Place East, Suite 500, Saint Paul, MN 55101.