Survey: Banks Continue to Offer More Products Favorable for Older Customers
As older Americans—those born before 1965—hold 65% of deposit balances in the U.S., banks have continued to offer more products ...
Tag: Elder abuse
FTC: Fraud Cost Older Americans More Than $600 Million in Losses in 2020
The Federal Trade Commission’s Consumer Sentinel Network took in more than 334,000 fraud reports filed by Americans age 60 or ...
Fraud-Related Losses Rise Among Older Consumers
Consumers aged 60 and older lost nearly $440 million to fraud in 2019, a $40 million rise from the prior ...
Four Ways Banks Protect Seniors by Reducing Social Isolation
For seniors, social distancing saves lives but breeds vulnerability to fraud. Here’s how banks are protecting older Americans’ finances in ...
Podcast: Red Flags for ‘Money Mule’ Scams
Amid the coronavirus pandemic, cybersecurity and fraud analysts have noted an uptick in "money mule" scams. Banks increasingly need to ...
DOJ Charges Record Number of Elder Fraud Cases
The Department of Justice has charged more than 400 defendants responsible for more than $1 billion in losses this year ...
New Analysis from FinCEN Notes Uptick in Elder Financial Exploitation
The number of Suspicious Activity Reports related to elder financial exploitation has risen dramatically over the past several years, as ...
Survey: Banks Ramp Up Efforts to Protect Older Americans from Financial Abuse
As the population of older Americans continues to grow—and with seniors increasingly the targets of scams—a majority of banks are ...
Podcast: Enlisting Trusted Caregivers to Help Prevent Elder Fraud
Nearly 15% of Americans—more than 34 million people—are serving as caregivers for adults over 50. In November, recognized as National ...
CFPB Issues Advisory on Reporting Elder Financial Abuse
The Consumer Financial Protection Bureau yesterday released an advisory to financial institutions for reporting suspected elder financial exploitation.
