January 15, 2014

CINCINNATI, OH - JAN. 14, 2014 - Better Business Bureau® and the FINRA Investor Education Foundation are reaching out to consumers at several branches of the Public Library of Cincinnati and Hamilton County about how to avoid risky investments and unlicensed brokers through a series of public forums on the topic.

Consumer financial fraud is a serious problem in North America. According to the Federal Trade Commission and the Canadian Anti-Fraud Centre, consumers reported losing more than $1.5 billion to all types of scams in 2011.

FINRA Foundation research has found that investors are overconfident in their knowledge of financial management, particularly Baby Boomers who are most often the target of investment scams. A telephone survey found that 92% felt “somewhat” or “very confident” about managing their finances, with almost 80% describing themselves as “somewhat” or “very” knowledgeable about investing. But only 44% got a passing grade on a basic financial literacy knowledge test. BBB Smart Investing hopes to help change that.

Senior citizens are the most often targeted by scammers through mail, telephone and on the internet. The information provided in the seminar is relevant not just for seniors but for caregivers, family members and anyone who is interested in keeping their personal information safe. Sessions last for an hour followed by a question and answer period.

The forums are:

Thurs. Feb. 13 at 1 p.m. Monfort Heights, 3825 West Fork Rd.
Tues. Feb. 18 at 6:30 p.m. at the Deer Park Branch, 3970 E. Galbraith Rd.
Mon. March 3 at 11 a.m. at the St. Bernard Branch, 4803 Tower Ave.
Mon. March 10 at 6:30 p.m. at the Greenhills Branch, 7 Endicott St.
Sat. March 22 at 2 p.m. at the Green Township Branch, 6525 Bridgetown Rd.

Admission is free to the public with registration encouraged through BBB. Contact Trish Sefakis, or call (513) 639-9146. This program is available for presentation for free to any community.

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