Elder financial abuse is an issue all banks need to take seriously. In order to properly combat the financial abuse of elders at your bank it is important to understand the ways financial abuse can occur and the steps you can take to prevent it. This course is intended for all frontline staff and those whom interact with customers. Course length ≈ 30 minutes.

Learning Objectives:

• Explain the different forms of elder financial abuse
• Understand how elder financial abuse commonly happens
• Implement policies and procedures at your bank to detect
• elder financial abuse
• React to elder financial abuse by contacting the proper Authorities

• Help prevent elder financial abuse at your bank

Course Outline:

• What Can Happen?

• Fraud Committed by Stranger
• Prizes and sweepstakes
• Investments
• Charity contributions
• Home and automobile repairs
• Loans and mortgages
• Health, funeral and life insurance
• Travel
• Confidence games
• Telemarketing
• Mail
• Fraud Committed by Relatives or Caregivers
• Joint bank accounts
• Deed or title transfer
• Power of attorney and durable power of attorney
• Living trusts and will

• How It Happens
• Vulnerability
• Victim characteristics
• Victim facilitation
• Re-victimization
• Influence
• Offender characteristics
• Underreporting
• Detecting Elder Financial Abuse
• Customer concerns
• Account activity
• Third party involvement
• Examples
• Examples
• The grandson’s car
• The suspicious credit card arrangement
• The shared pin
• The stranger on the phone
• Reacting to elder financial abuse
• Suspicious Activity Reports
• Reporting to law enforcement
• Developing reporting protocol
• Preventing Elder Financial Abuse
• Developing customer relationships
• Providing education programs

This course is worth 1 CPE credit.