PRESENTER(S):

Jim Richards, Former Top Banking Executive
Corey Lynch, Product Expert, Verafin

ABOUT THE WEBINAR:

Elder financial abuse is a significant, underreported and growing issue, with devastating effects on individuals and families. Fraudsters will exploit every opportunity for their gain, including seniors’ heightened fear and isolation during the current COVID-19 pandemic. More than ever, financial institutions must be diligent in combating 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. This was emphasized in the 2011 advisory from FinCEN, as well as the 2018 Joint Memorandum issued by the CFPB, the US Department of the Treasury, and FinCEN which encourages coordination among law enforcement and adult protective service agencies (APS) to combat elder financial exploitation.

In this insightful webinar, 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.

THIS WEBINAR WILL COVER:

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

TOP 3 BENEFITS TO ATTENDEES:

1. Understand the scale and challenges of elder financial exploitation.
2. Recognize FinCEN red flags for elder financial exploitation.
   
3. Learn best practices for reporting elder financial exploitation.
   

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