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BANKSAFE PROGRAM

WHAT Free training for banks, credit unions and financial advisory firms on how to recognize and help stop financial exploitation and financial abuse of the elderly.
WHYTo educate, train and empower financial professionals on how to spot financial abuse of the elderly and what an employee should do if they witness or suspect such activity.
WHEREBankSafe Program.
AARP.
Across the USA,


Program Description


“ ‘Our research shows that financial professionals trained by BankSafe save 16-times the amount of money from being stolen from older adults than their peers,’ said Jilenne Gunther, National Director of AARP’s BankSafe Initiative. ‘These financial institutions are doing vital and impactful work to better protect older adults from exploitation.’ ”

“In 2020, individuals trained on AARP’s BankSafe financial-exploitation-prevention training platform stopped more than $19 million from being stolen from the accounts of older adults. In addition, these individuals are better protecting 9 million consumers from exploitation.”

- source: Press Release: ‘AARP Recognizes Financial Institutions Committed to Fighting Financial Exploitation.’

AARP’s BankSafe Program aims to build understanding and empathy within financial industry professionals with respect to older adults and financial abuse.

Training exercises are presented through interactive scenarios, games and quizzes and is unique to the requirements, laws and resources of each state.

Financial Professionals are trained to:

  • Learn about financial exploitation and its impact on both older Americans and financial institutions.
  • Identify red flags for financial exploitation.
  • Develop skills to ask the right questions and take the right actions when they suspect financial exploitation.
  • Understand state-specific reporting requirements and available community resources.
  • Practice and put newfound skills to the test.

Financial institutions can earn the BankSafe seal from AARP once staff have completed BankSafe financial exploitation training and implement a financial abuse reporting policy.

Trained financial service professionals have been able to hold, delay, refuse suspicious transactions, make notes on an account and refer cases to adult protective services, law enforcement and risk management.
source: aarp.org/ppi/banksafe, The Impact of Training Financial Professionals to Prevent Financial
Exploitation Summary.

Aging Programs
Elder Abuse Prevention Programs
Financial Elder Abuse Prevention Programs

Find out more about the BankSafe Program



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