Preventing Elder Financial Abuse - 2022
Recorded on July 25, 2022
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The Financial Crimes Enforcement Network (FinCEN) is issuing this advisory to alert financial institutions to the rising trend of EFE targeting older adult and to highlight new EFE typologies and red flags since FinCEN issued the first EFE Advisory in 2011. FinCEN is also issuing this advisory in support of World Elder Abuse Awareness Day, which has been commemorated on June 15 every year since 2006 and provides an opportunity for communities around the world to promote a better understanding of abuse and neglect of older adults by raising awareness of the related cultural, social, economic, and demographic factors. According to the U.S. Department of Justice, elder abuse, which includes EFE among other forms of abuse, affects at least 10 percent of older adults each year in the United States, with millions of older adults losing more than $3 billion to financial fraud annually as of 2019.
During this webinar we will review all the new and old typologies and your responses to Elder Financial Exploitation.
Questions and Answers
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