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KIRKSVILLE, MO. -- Missouri Secretary of State Robin Carnahan visited Kirksville Friday to talk to senior citizens about financial fraud.

Carnahan says scam artists often target seniors because they have amassed a lifetime’s worth of savings. She discussed the top five threats facing investors this year and offered advice on the best ways to safeguard your hard-earned money.

Financial fraud has been on the rise in the past few years.

“Unfortunately in these kind of difficult economic times, that's when the scam artists start doing even more work. It's because of the uncertainty, they feel like they have new targets and possibilities,” Carnahan said.

She tells KTVO that calls to the secretary of state's investor protection hotline have gone up 40 percent in the last year.

Carnahan says the top new threat to investors she's seeing is off-book sales. 

“Your broker or your financial adviser might be advising you to buy something that is not traditionally sold by his company. And they might sell you these saying it will save you these, or save you money, or be for just special clients. But it's something their firm doesn't sell. Well let me just tell you that's against the law,” she said.

Carnahan also discussed ways seniors can help protect themselves from these types of threats. she says the best thing you can do is call the Investor Protection Hotline at 800-721-7996 when you’re considering any investment opportunity.

For much more on the top threats to Missouri investors and how to protect your savings visit the Investor Protection Web site.