In recognition of World Elder Abuse Awareness Day (WEAAD) on June 15, the Idaho Department of Finance (IDOF) reminds financial professionals and the public that financial exploitation of seniors is a pressing issue for all Idahoans.

The Idaho Department of Finance (IDOF) and Idaho Commission on Aging (ICOA) are announcing the creation of a joint Senior Fraud and Financial Exploitation Prevention Working Group (SFFEP) comprised of financial and senior protection experts to provide recommendations for potential policies, frameworks, and solutions that can help better protect Idaho’s senior community from financial crime.

The Idaho Department of Finance (IDOF) urges Idaho consumers to exercise heightened caution when purchasing cars, recreational vehicles, farm equipment, and other high-dollar items online. IDOF recently received several reports from victims of online purchase scams that risked losing thousands of dollars due to being lured into purchasing from a phony website or fake ads in various online marketplaces.

Home improvement projects can be
complex and may involve long-term financial commitments. Taking proactive steps, such as researching financing
options and their implications, and becoming familiar with other important considerations, can help homeowners
make more informed decisions and avoid common pain points associated with financing home improvements.