Tennessee Governor Bill Lee Declares June 15th as World Elder Abuse Awareness Day

On Sunday, June 15th, 2025, Tennessee Governor Bill Lee declared it to be World Elder Abuse Awareness Day. In support of this designation, the Division of Securities at the Tennessee Department of Commerce & Insurance (TDCI) is emphasizing how crucial it is to understand the warning signs that could point to elder financial abuse or fraud when it comes to investing in unregulated products like cryptocurrencies and other “virtual” investments. “Helping protect the dignity and financial independence of Tennessee’s elder population aligns perfectly with our mission of protecting Tennesseans and empowering professionals,” said TDCI Commissioner Carter Lawrence. “Any Tennessee senior, caregiver, or loved one should always remember to contact TDCI’s securities team if they have a question about their financial investments or insurance policies.” TDCI advises consumers to exercise caution whenever they invest in unregulated items, including bitcoin and other “virtual” investments, in order to support elderly investors and their loved ones. “Cryptocurrencies are not fool-proof investments no matter what you might have heard,” said TDCI Assistant Commissioner for Securities Elizabeth Bowling. “Considering the volatile nature of cryptocurrency, the risk is even higher that you might lose your entire investment. Before making an investment in cryptocurrency, contact my team by phone at 800-863-9117 or online at tn.gov/securities or for more information or if you suspect fraud has occurred.” TDCI shared tips on how to help senior investors which include; understanding the risks and making sure you are comfortable with them, verifying the legitimacy of the person or entity offering the investments, avoiding discussing investments with digital representatives, and be wary of misinformation. Other types of elder abuse involving abuse, neglect, or exploitation should be reported to the Tennessee Department of Human Services, Adult Protective Services Unit by phone at (888) 277-8366 or online, or, if there is immediate danger, to local law enforcement.