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In recognition of World Elder Abuse Awareness Day, the Financial Crimes Enforcement Network reminded financial institutions to remain vigilant in identifying and reporting suspicious activity related to elder financial exploitation. FinCEN offers resources to help stakeholders.
ICBA Resources: ICBA and ICBA CRA Solutions recently released tips for preventing elder financial abuse. ICBA encouraged consumers to secure private information, check bank accounts and bill statements carefully, and ask community bankers for information on protecting against scams and exploitation.
More: ICBA CRA Solutions and its Senior Housing Crime Prevention Foundation help banks earn CRA credit by protecting residents of low-income senior housing facilities through programs such as Senior Crimestoppers, Senior Secure, and Senior Sentry.