June 15 marks World Elder Abuse Awareness Day

State urges action to stop elder financial exploitation in New Mexico

SANTA FE — Financial exploitation remains a growing threat to older New Mexicans, and World Elder Abuse Awareness Day is a great reminder to revisit what you know about financial exploitation and take steps to prevent it from happening to you or someone you know.

In the last year, the New Mexico Securities Division has received hundreds of reports of suspected financial exploitation of vulnerable adults, including older New Mexicans. The FBI reported nearly $56 million in losses from elder fraud complaints for New Mexico in 2025.

Securities regulators across North America handled more than 3,600 complaints involving older investors and opened more than 1,650 investigations tied to senior financial exploitation and investment misconduct, according to the 2025 Enforcement Report from the North American Securities Administrators Association.

A growing dependence on technology has led to even more risks, including digital asset scams, social media fraud, AI-driven impersonation schemes and attempts to target seniors' trust and retirement funds.    

"Protecting our seniors requires vigilance at every level," said Benjamin Schrope, acting director of the New Mexico Securities Division. "We see the devastation financial exploitation has on victims and we work tirelessly with families and financial professionals to stop the theft of a lifetime of hard work before the money leaves the account." 

Here are three immediate steps investors and their families can take to protect themselves:

Name a trusted contact: A trusted contact is a safety net for your brokerage account. It allows your financial firm to contact someone you trust if they suspect fraud or cannot reach you. 

Recognize the Senior Safe Act: This law provides a framework for financial professionals to report suspected exploitation to state regulators without fear of violating privacy rules. 

Report locally: If you suspect a senior is being targeted, contact the Securities Division or your local law enforcement immediately. Reports can be made anytime on the Securities Division's website form. Early reporting is the most effective way to recover lost funds.

Prevention is key. For more information or to request a no-cost presentation on fraud awareness and prevention for seniors, visit www.rld.nm.gov/securities-division/.