Originally Presented: September 22, 2022
Elder financial abuse is a significant and growing problem that has devastating effects on individuals and families in Texas, and across America. Believed to be largely underreported, financial institutions are facing increased responsibility to help combat the exploitation of vulnerable customers.
Early detection of red flags and timely reporting to law enforcement are critical to protecting elderly customers from financial loss. In this educational webinar, exclusively for members of the Texas Bankers Association, we discuss the scale of elder financial exploitation and outline key considerations from industry publications and guidance, including red flag indicators and best practices for reporting.
In this webinar, you will learn:
- The scale of elder financial exploitation and the challenges of preventing fraud targeting senior customers.
- How criminals target elderly and vulnerable customers with lucrative and opportunistic scams, including schemes exploiting the COVID-19 pandemic.
- Potential Red Flag Indicators of elder financial exploitation
- Best practices for reporting elder financial exploitation, including Suspicious Activity Reporting, and contacting appropriate local and state-level agencies.