The D.C. Department of Insurance, Securities and Banking is teaming up with other District offices to highlight investment fraud during Financial Fraud Awareness Week, Aug. 23 to 29.

Thomas E. Hampton

DISB, along with the D.C. Office on Aging, the D.C. Department of Consumer and Regulatory Affairs and the Office of the Attorney General will host an investor fraud awareness forum Wed., Aug. 26, from 11:30 a.m. to 1 p.m. at the Washington Seniors Wellness Center on Alabama Ave. The agencies will use the opportunity to educate senior consumers about avoiding the pitfalls of financial fraud, especially given the status of the economy.

Thomas E. Hampton, DISB commissioner, said the District has seen a “marked increase” in all kinds of fraud.

“We are focusing this year on investor fraud because people work a lifetime to accumulate the necessary funds to afford a comfortable retirement; but then, they fall prey to unscrupulous businesses, which cause significant financial losses from which they may not be able to recover,” Hampton said in a statement. “Information is an investor’s best defense against investment fraud. When it comes to investing your retirement funds, it is important to verify everything and everyone.”

During Financial Fraud Awareness Week, DISB will provide general information to the public on fighting fraud, especially investment fraud, mortgage and foreclosure scams, and insurance fraud. The agency will also take part in events hosted by other District agencies.

“The information you need to make an informed choice about who you entrust with your money is right at your fingertips,” Hampton said. “Our office should be your first call if you need license information about your stockbroker, investment advisor, insurance agent or mortgage broker. And the perfect time to make that call is before you turn over any money.”