Updated at 3:05 p.m., Thursday, May 24, 2007
Anti-fraud bills for seniors become law
Advertiser Staff
Gov. Linda Lingle today signed two bills into law designed to protect Hawai'i's senior citizens from financial abuse and fraud.The two bills, along with another one signed earlier this month, are part of the administration's effort to protect residents against scam artists, especially those who target seniors with fraudulent investment schemes.
The first bill requires financial institutions to report any suspected financial abuse committed against a senior citizen age 62 or older to the Department of Human Services or a law enforcement agency.
The second measure allows an extra $50,000 fine per violation to be added to any existing civil or administrative fine levied for securities violations against a person 62 or older.
