SAFE BANKING FOR SENIORS
“Older adults lose billions of dollars each year to fraud. Financial abuse against older Americans can take many forms, from illegal debits, to third-party scams and even unauthorized withdrawals by an approved caregiver.”
“People over the age of 50 make up one-third of the population, but account for 61% of bank accounts and 70% of bank deposits.”
“Banks and the people who work there are well positioned to play a prominent role in helping to protect seniors from fraud and financial exploitation and misplaced trust that can jeopardize their financial security. As a group, banks play a leadership role in virtually every town and city in the country, and bank employees participate in a broad range of community services and events.”
Banks can access Safe Banking for Seniors presentation materials for free. The program includes lessons, participant activities, and promotional materials.
Financial abuse prevention educational topics includes:
- Identifying and Avoiding Scams such as the Lottery Scam, Online Dating Scams, Grandparent Scam
- Protecting Your Assets by Preventing Identity Theft
- Choosing a Financial Caregiver
- Acting As a Responsible Financial Caregiver
- Red Flags for Spotting Elder Financial Abuse
Financial institutions are encouraged to connect with local senior living communities, senior centers, adult day centers, and other older adult organizations with the aim of promoting the Safe Banking for Seniors Program.
The American Bankers Association connects banks with schools, faith-based organizations, community centers, and other organizations to educate older adults on how to protect their finances and fight fraud.
Elder Abuse Prevention Programs
Financial Elder Abuse Prevention Programs