Tour Defends Against Financial Scams on Montana's Elderly

Missoula, MT (KGVO-AM News) - In addition to now running for Congress, Montana State Auditor and Commissioner of Insurance Troy Downing is continuing his tradition of traveling over the state to educate the elderly and their caregivers about how to avoid financial and other scams that have exploded over the past few years.

Troy Downing and his Team Travel the State to Protect the Elderly

“A lot of people don't understand exactly what we do as a criminal justice agency and a regulator of insurance and securities, and we’re trying to change that,” began Downing. “We investigate and prosecute financial crimes in the security sector as well as insurance fraud, and one of the things that became obvious in our office is the financial fraud that we investigate and prosecute. The lion's share, which is 70 to 75 percent perpetrated against our senior population.”

Downing said scammers go where the money is, and that is primarily an older population.

Downing said the Crooks go Where the Money Is

“It kind of makes sense if you think about it; that's where most of the wealth is concentrated,” he said. “Folks who are older have more of a likelihood of having paid off a mortgage or have retirement accounts or these other different assets. Because of that we have noticed that most of these fraudsters are hitting that older population and that caught our attention.”

Downing described those who would most benefit from the community forums.

"We do a lot of outreach," he said. "We travel around the state. I've got a great team. I join when I can but the team team does it on their own when I'm double booked, but they get out into communities, and not just senior communities but their families, caregivers, Adult Protective Service members, law enforcement, county attorneys, whoever has an interest in protecting the public."

Downing Detailed some of the Scams that Target the Elderly

Downing detailed many of the scams and financial fraud schemes that are foisted on the elderly.

“We talk about red flags and scams, a lot of issues that force compelled silence by asking you to pay something in a hurry with non traditional currency like gift cards or crypto or something like that,” he said. “So, right now we're on a tour. We were just today in White Sulphur Springs in Harlowton, and we're moving on to Townsend and Bozeman on March 14. On March 18, will be in Helena and then we will be in Great Falls, Conrad, Deer Lodge, Anaconda, Butte, Dillon, Hamilton and Missoula.”

Get more details about the tour by clicking on the State Auditor and Commissioner of Insurance website.