Nixon signs bill aimed at protecting seniors from fraud

3 years 2 months 1 day ago Friday, June 12 2015 Jun 12, 2015 Friday, June 12, 2015 8:17:00 PM CDT June 12, 2015 in News
By: The Associated Press

JEFFERSON CITY (AP) - Financial advisers soon will have more authority to act if they suspect an older Missouri resident or person with a disability is the target of financial fraud.

Gov. Jay Nixon on Friday signed a bill touted by supporters as a way to protect seniors from exploitation.

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

The measure applies to advisers of those who are 60 and older and those with disabilities.

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

Nixon says the legislation is another tool to fight financial exploitation.

[Editor's note: This story has been updated to reflect the most recent information.]

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