Vastly underreported, elder financial exploitation (EFE) impacts countless elderly Americans each year and is a growing concern. Victims can lose their savings and investments – severely impacting their personal well-being and financial security.
The variety of 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.
In this special rebroadcast, industry experts discuss the scope of the problem elder financial exploitation (EFE) poses and the role financial institutions play in addressing and preventing them.
