The number of financial fraud cases involving persons in their 60s is on the increase, and when persons are arrested for these offenses, they can expect aggressive prosecution.
In Japan, where a retiring population is being aggressively targeted with investment schemes, the number of senior citizens falling prey to investment fraud is rising. According to reports, in Japan, many retirees are taking chances on riskier investments, and that has increased wealth for many shareholders. These are people who have been out of the investment scene for more than two decades, and have recently begun experimenting with stocks.
However, many retirees now find themselves being targeted by investment fraudsters. The increase in fraud coincides with a campaign by the Japanese government to encourage more investments by the elderly. As part of an economy-bolstering campaign, Japanese households are being encouraged to move millions of dollars in assets out of safe savings bank accounts, and into investments. The government has also targeted senior citizens asking them to invest more, and that has meant an increase in the number of reported investment fraud cases involving seniors, many of who are financially illiterate and lack the financial savvy to recognize investment frauds.In fact, according to statistics in that country, people above the age of 60 accounted for more than 90% of the financial fraud cases that were identified by the police in 2013.
In the United States too, financial fraud is a hot button topic, and has many advocates outraged. The number of seniors in this country losing millions of dollars of their hard-earned money or retirement funds to fraud has been increasing. That has meant aggressive prosecutorial techniques that could leave even innocent persons open to charges of senior financial fraud.
If you have been accused of any senior financial fraud-related offense, know that the penalties for such convictions are very high. In fact, so stringent are the laws against financial fraud targeting seniors that very often, even minor errors made unknowingly or innocently, can result in an arrest. Prosecutors aggressively prosecute such crimes seeking the highest penalty for convictions.