Financial exploitation remains a growing threat to older New Mexicans, state officials said on June 11, as they highlighted World Elder Abuse Awareness Day and called for increased vigilance against scams targeting seniors.
The New Mexico Securities Division has received hundreds of reports of suspected financial exploitation of vulnerable adults over the past year. The Federal Bureau of Investigation reported nearly $56 million in losses from elder fraud complaints for New Mexico in 2025. According to the 2025 Enforcement Report from the North American Securities Administrators Association, securities regulators across North America handled more than 3,600 complaints involving older investors and opened more than 1,650 investigations related to senior financial exploitation and investment misconduct.
Officials noted that increasing dependence on technology has led to new risks for seniors, including digital asset scams, social media fraud, artificial intelligence-driven impersonation schemes, and attempts targeting 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."
The department outlined three immediate steps that investors and their families can take to protect themselves but did not specify these steps in detail within its announcement. The agency also encourages residents seeking more information or interested in no-cost presentations on fraud awareness and prevention for seniors to visit its website.
The New Mexico Regulation and Licensing Department advances public service by protecting consumers and promoting fair business practices; it oversees more than 400,000 individuals and businesses across 35 industries through offices in Santa Fe, Albuquerque, and Las Cruces; ensures qualified professionals provide quality services; offers licensing oversight; and provides services statewide, according to the official website.
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