TDCI Shares Investor Protection Tips Ahead of World Elder Abuse Awareness Day

Tennessee Governor Bill Lee has proclaimed Monday, June 15, 2026, as World Elder Abuse Awareness Day in Tennessee.  

To raise awareness about this proclamation and the rise in financial exploitation targeting elderly investors, the Tennessee Department of Commerce & Insurance’s (TDCI) Division of Securities reminds seniors and their caregivers to learn the signs of financial fraud before a scammer strikes.  

Financial exploitation remains a growing threat to Tennessee’s elderly residents. Increasingly, these threats include digital asset schemes, social media fraud, A.I. enabled impersonation scams, and ongoing efforts to exploit seniors’ trust and goodwill.  

According to a newly published FBI Internet Crime Report, Tennessee ranked 20th in the United States for losses from victims aged 60 and older as scammers took over $108 million of their savings. Tennessee ranked 19th overall in losses as scammers claimed over $269 million from victims of all ages. Cryptocurrency losses accounted for $142 million of the losses. 

“Protecting the dignity and financial independence of Tennessee’s elder population aligns perfectly with our mission of protecting Tennesseans and empowering professionals,” said TDCI Commissioner Carter Lawrence. “Tennessee seniors, caregivers, and their loved ones should always remember to contact TDCI’s Securities team if they have a question when approached about financial investments.”   

To assist senior investors and their loved ones, TDCI reminds Tennesseans to always be cautious when it comes to investing in products such as cryptocurrency and any “virtual” investments.   

 To protect Tennessee investors of all ages, state leaders recently banned crypto kiosks in the Volunteer State, starting July 1, 2026, a step which the Department supports.  

“Protecting our seniors requires more than just national oversight. It requires local vigilance,” said TDCI Assistant Commissioner for Securities Elizabeth Bowling. “The Securities Division is on the ground every day, working with families and financial professionals to stop the theft of a lifetime of hard work before the money leaves the account.”  

To help senior investors, TDCI is sharing these tips: 

•  Understand the risks of all investments and make sure you are comfortable with them, including the possibility that you might lose your entire investment. 
• Name a trusted contact as a “safety net” for your brokerage account. It allows your financial firm to contact someone you trust if they suspect fraud or cannot reach you. 
• Report locally – if you suspect a senior is being targeted, contact TDCI’s Securities Division immediately. Early reporting is the most effective way to recover lost funds.  
• Verify that the person or entity offering the investment is registered with one or more securities regulators. Visit TDCI’s Securities division online here.  
• Avoid discussing investments or sharing personal or account information with avatars, or digital representations of users that can take on any appearance or personal attribute. Fraudsters may try to leverage shared interests, ideas, and goals to build trust and convince investors to invest in phony investment schemes.  
• Steer clear of unsolicited online investment advice.   
• Be wary of misinformation, including fake news and online celebrity gossip, as scammers write fake online articles and social media posts that create buzz by falsely stating a celebrity or public figure is involved in a technology investment.  

Other types of elder abuse involving abuse, neglect, or exploitation should be reported to the Tennessee Department of Human Services, Adult Protective Services Unit by phone at (888) 277-8366 or online, or, if there is immediate danger, to local law enforcement.