Grandparent scams are a particularly pernicious fraud, one that preys on seniors’ love, care and concern for their family members. How can banks recognize these scams and work with law enforcement to protect clients?
As part of its Safe Banking for Seniors campaign, the ABA Foundation today released seven new videos intended to help raise awareness about the top scams targeting older Americans.
The advisory highlights behavioral and financial red flags to aid banks with identifying, preventing and reporting suspected abuse.
The latest episode of the ABA Banking Journal Podcast continues a pre-Thanksgiving tradition by interviewing the winners of ABA’s 2021 Community Commitment Awards. These stories present the perfect inspiration as we prepare for the season of thanks and giving.
As older Americans—those born before 1965—hold 65% of deposit balances in the U.S., banks have continued to offer more products with terms that are favorable to them, according to the American Bankers Association Foundation’s 2021 Older Americans Benchmarking Report released today.
The Federal Trade Commission’s Consumer Sentinel Network took in more than 334,000 fraud reports filed by Americans age 60 or older, with reported losses of more than $600 million, the commission reported in its annual report to Congress on protecting older consumers.
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
The ABA Banking Journal Podcast continues a pre-Thanksgiving tradition by interviewing the winners of ABA’s 2020 Community Commitment Awards. These stories present the perfect inspiration as we prepare for the season of thanks and giving.
Americans don’t like to talk about money. But when a serious and sudden health event takes place, powers of attorney are a critical step to help families prepare for potential caregiving needs.
The ABA Foundation, in collaboration with the Federal Trade Commission, released a new infographic today to educate consumers on impostor scams which disproportionately affect older adults.