FinCEN urges financial institutions to ‘remain vigilant’ about relationship scams
FinCEN issued a statement calling on financial institutions to remain vigilant regarding suspicious activity that may be indicative of relationship ...
Tag: Elder abuse
Regulators release strategies for financial institutions to combat elder financial exploitation
Federal and state financial regulators released a joint statement with strategies and advice for financial institutions on identifying, preventing and ...
FTC: Older adults lost up to $61.5B to fraud in 2023
Older Americans reported losing more than $1.9 billion to fraud in 2023, but since most fraud isn’t reported, the actual ...
Elder financial exploitation: Confronting a chronic challenge
Banks are collaborating, using technology and taking other steps aiming to protect a vulnerable population.
AARP survey details generational differences in banking practices, fraud experiences
While adults ages 18 to 49 are more likely than older adults to lose money from financial exploitation, older adults ...
FinCEN: Financial institutions reported $27 billion in elder financial exploitation
Financial institutions reported roughly $27 billion in suspicious activity related to elder financial exploitation during a one-year period from 2022 ...
ABA Foundation, FBI release guide to combat elder financial exploitation
The ABA Foundation and FBI released a new guide with important tips and information to help bank employees detect and ...
Podcast: Trends and tips for preventing grandparent scams
Grandparent scams are a particularly pernicious fraud, one that preys on seniors' love, care and concern for their family members. ...
Report: Elder financial exploitation on the rise
The rate of elder financial exploitation across the globe has more than doubled since the start of the COVID-19 pandemic, ...
FinCEN advisory addresses elder financial exploitation’s growing threat
The advisory highlights behavioral and financial red flags to aid banks with identifying, preventing and reporting suspected abuse.
