Older adults are a growing population in the United States as well as a growing target for scams. ABA and the ABA Foundation provide resources and tools to help you understand and address elder financial exploitation (EFE). Find federal guidance and legislation that protect seniors.
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Between June 2022 and June 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) found that over 155,000 BSA filings amounted to roughly $27 billion in elder financial exploitation related suspicious activity.
Recorded Webinar | June 13, 2024
In recognition of World Elder Abuse Awareness Day, ABA Foundation is hosting a free webinar on Thursday, June 13.
Recorded Webinar | May 1, 2024
Join the ABA Foundation, the Department of Justice and United States Postal Inspection Service for an important discussion about money mules.
Recorded Webinar | June 14, 2023
In advance of World Elder Abuse Awareness Day, join ABA Foundation and the Department of Justice for a free webinar on recognizing behavioral and financial red flags.
Recorded Webinar | October 27, 2022
Join the ABA Foundation and the Department of Justice for a free webinar that will help you recognize signs of elder financial exploitation and offer strategies to protect your older customers against this growing problem.
FinCEN issued an advisory highlighting new scam typologies and elder financial exploitation red flags in response to rising criminal activity targeting America's seniors.
Access the AdvisoryBanks should report suspected elder financial exploitation to all appropriate federal, state, and local authorities. Banks should also file a Suspicious Activity Report (SAR) with FinCEN explaining any suspected financial abuse activity. Include the term “elder financial exploitation” and the victim’s information in the narrative portion. Do not report the victim as the subject of the SAR. For more information, visit FinCEN.
An ABA Foundation program to help banks educate their communities on combatting elder financial exploitation. Register to access free resources on avoiding scams, preventing identity theft and financial caregiving.
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Safe Banking for Seniors webinars that focus on prevailing scams, bank outreach to older adults and financial industry guidance on protecting seniors.