Archived Webinar

Elder Financial Abuse

Best Practices for Financial Institutions for Early Detection & Timely Reporting

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Originally Presented: June 30, 2020

Elder financial abuse is a devastating crime that is growing in prevalence as bad actors exploit fear and uncertainty of vulnerable customers during the COVID-19 crisis. Believed to be largely underreported, financial institutions must respond quickly to combat the exploitation of senior customers.

Join our expert panel including Corey Lynch, product expert at Verafin, industry expert Jim Richards, former BSA Officer at Wells Fargo, and Zane Morgante, CFE and Loss Prevention Program Manager at Bank OZK, as they share perspectives from across the industry on elder financial exploitation. These speakers will keep you informed of emerging COVID-19-related scams, and key considerations from industry publications and guidance, including red flag indicators, best practices for detection, and trends from suspicious activity reporting.

In this webinar, you will learn:

  • The scale of elder financial exploitation and the challenges of preventing fraud targeting senior customers.
  • How criminals are leveraging the COVID-19 pandemic to target elderly and vulnerable customers.
  • Potential red flag indicators of elder financial exploitation from the FinCEN Advisory.
  • Best practices for reporting elder financial exploitation, including Suspicious Activity Reporting, and contacting appropriate local and state-level agencies.

Tagged as...

  •   COVID-19
  •   Elder Financial Abuse
  •   Fraud
  •   Fraud Scams
  •   Red Flags
  •   SARs