Nixon signs bill aimed at protecting seniors from fraud

1 year 9 months 1 week ago June 12, 2015 Jun 12, 2015 Friday, June 12 2015 Friday, June 12, 2015 1:04:27 PM CDT in News
By: The Associated Press

JEFFERSON CITY (AP) - Gov. Jay Nixon signed a bill Friday touted by supporters as a way to protect seniors from exploitation.

The bill means financial advisers would have more authority to act if they suspect an older Missouri resident or person with a disability is the target of financial fraud.

Once the bill takes effect, financial professionals can refuse to process transactions if fraud is suspected.

The measure applies to advisers of those over 60 or those with disabilities.

Financial professionals must inform state agencies, as well as a relative, attorney or the authorities of suspicious activity.

Nixon said the legislation was another tool to fight financial exploitation.

 

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