Vastly underreported, elder financial exploitation (EFE) is estimated to impact 1 in 10 elderly Americans each year and is a growing concern.[1] Victims can lose their savings and investments – severely impacting their personal well-being and financial security.
The various scams impacting elderly victims can oftentimes be tied to other financial crimes and criminal networks. As highlighted in the AML/CFT Priorities, predicate crimes that generate illicit proceeds and are laundered pose a major threat to the financial system. Improving the efficiency and effectiveness of the nation’s AML/CFT regime is essential.
Join us for this replay of a panel webinar where we look at the scope of the problem EFE poses and the role financial institutions play in addressing and preventing them.
[1] Source: Nasdaq, 2024 Global Financial Crime Report