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so, thank you. all right, thank you. andre, david, ed, tony, lanny. and, now, if, if other than david, if you don t mind, allow our panelists to come up to the stage. we can begin with the next portion of our summit. ladies and gentlemen, the next portion of the summit will be a panel on fraud on the elderly. the moderator will be michael bloom, director of the consumer branch of the civil division. panelists, david vladic, you heard from, elizabeth koesel director of state affairs of aarp, naomi carp, association of older americans, deputy jay rush, fraud section of the criminal disvision department of justice, jeffrey stieger senior litigation counsel consumer protection branch, civil division, department of justice. and, abby kuzma, from the office of the indiana attorney general. with that i give you michael bloom, our moderator, thank you. thanks, folks. good afternoon. it, it, this panel i suspect will be very interesting and informative. let s just get rig ....
i ll just talk really quickly about the research at aarp public policy institute that about betsy talked about. it was in the investor sphere but we surveyed frontline financial advisers, broker/dealers and their compliance officers about do they understand diminished capacity, do they see it as a problem? do they have protocols in their firm to deal with it? are they worried about financial exploitation? what do they need? and the message was loud and clear, yes, they see it as a problem. almost all of them recognized it. some of them have protocols but their protocols were all over the map. they overwhelmingly said we need training on 0 diminished capacity. it should be mandatory but our firms don t require it. so i think it s interesting that there s a recognition but yet we don t have the tools yet and we re going to all have to start working together to create them. one of the scams you mentioned was the lottery scam. jeff steger in my office has done some work i ....
other countries. and that s coordination among law enforcement. there s also the international component of these will affect the kind of messages we will send to consumers, and that s something david would like to talk about, about how the ftc is recognizing the international component of much of their work and how it affects the messaging or the messages they give out to consumers well, to consumers. let me put this in context. i think there s been a terrific summary of the kinds of scams that are plaguing our older people in the united states, but they pose a real problem, a real challenge both for law enforcement and for consumer education. so let me just sort of run through some of the reasons why that is so. these are retail rather than wholesale scams. one of the keys to the scam typically is getting someone on the phone and having a conversation with them. they may be initiated through the internet. they may be initiated through the receipt of a fake check ....
that s what we are going to do, keep learning trying to do more and more. going to try to educate those most vulnerable. some times in these crimes, we know people are embarrassed that they were scammed. maybe they were embarrassed because nay because they donated money or gave money because they thought that their lich life s partner they never met. thought was their kindred spirit neededan elderly person that is defrauded, gave money and it was farther from that. we hatch to together, figure how we can help our most vulnerable. we in the criminal division have identified these boiler rooms in costa rica. criminals from the united states and other places go. literally 24 hours a day they man phones with one kind of consumer fraud after another. you have won the lottery. send this much money. a relative has suffered a disaster. send us this much money. but we have extradited the people, one was sentenced to 30 years in jail. a whole group of others were sentenced to b ....
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