Missouri lawmakers OK financial fraud measure for seniors

Posted 7/5/15

JEFFERSON CITY, Mo. (AP) — Financial professionals who suspect an older Missouri resident or person with a disability is the target of financial fraud would have broader authority under a measure …

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Missouri lawmakers OK financial fraud measure for seniors

Posted
JEFFERSON CITY, Mo. (AP) — Financial professionals who suspect an older Missouri resident or person with a disability is the target of financial fraud would have broader authority under a measure headed to the governor.The Missouri Senate voted 33-1 Wednesday on a measure that supporters say will give latitude to financial advisers to protect seniors from financial exploitation.The bill would provide legal protections for financial advisers who put a hold on transactions they deem suspicious for a limited time.The hold would be allowed for only people over 60 or those with disabilities.The financial professional would have to inform a relative, attorney or the authorities about the potential fraud.__The financial fraud bill is SB 244.Online:Senate: http://www.senate.mo.gov
Missouri lawmakers OK financial fraud measure for seniors

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