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.
The ABA Foundation today recognized seven banks for their outstanding commitment to their communities.
Consumers aged 60 and older lost nearly $440 million to fraud in 2019, a $40 million rise from the prior year, according to a report submitted to Congress today by the Federal Trade Commission.
A new study by the Consumer Financial Protection Bureau today found that just over half of retired Americans who retired between 1992 and 2014 were able to maintain their same level of spending for five years after retiring.
For seniors, social distancing saves lives but breeds vulnerability to fraud. Here’s how banks are protecting older Americans’ finances in the COVID-19 era and beyond.
How banks of all sizes are delivering tailored financial education programs that meet the needs of distinct—and vulnerable—groups in their communities.
Compliance professionals are uniquely positioned to educate older Americans about the growing number of scams surrounding the pandemic.
Amid the coronavirus pandemic, cybersecurity and fraud analysts have noted an uptick in “money mule” scams. Banks increasingly need to be on the lookout for the telltale signs of these scams.
The Department of Justice has charged more than 400 defendants responsible for more than $1 billion in losses this year in the largest coordinated sweep of elder fraud cases in history, Attorney General William Barr and Chief Postal Inspector Gary Barksdale announced today.
Consumers lost $201 million to romance scams in 2019, an increase of nearly 40% from a year prior, according to new data from the Federal Trade Commission’s Consumer Sentinel Network.