Elder & Dependent Adult Financial Abuse

IT & Cybersecurity Compliance Frontline & New Accounts Human Resources IRA & HSA Lending Operations Senior Management & Directors Bank Secrecy Act (BSA)Fraud

On-Demand Webinar:

StreamedDec 10, 2024Duration60 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

See Registration Options

According to the Justice Department, elder abuse/financial exploitation affects nearly 10 percent of older adults, with millions of them losing over $3 billion annually.

Add the financial abuse of other dependent adults and the number of unreported cases, and it becomes a crime of epidemic proportions – not only in the US, but worldwide. This webinar will provide a foundational understanding of the red flags and your institution’s obligations.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Use a SAR to notify FinCEN
Define financial abuse and identify red flags
Explain the reporting requirements under various state and federal laws
Distinguish between elder fraud and elder scams as defined by FinCEN

WEBINAR DETAILS

In both elder theft and financial exploitation scams, older adults are often revictimized and subject to potentially further financial loss, isolation, and emotional or physical abuse long after the initial exploitation due to the significant illicit gains at stake. That is why many states have mandated reporting requirements for financial institutions, and federal law provides protection for institutions in states that have not yet adopted mandatory reporting requirements. Even without a legal requirement, financial institutions must take protection of accountholders seriously.

WHO SHOULD ATTEND?

This informative session is designed for all staff, but especially those in contact with accountholders, such as tellers, financial services representatives, call centers, lenders, fraud mitigation staff, risk management professionals, and collectors.

TAKE-AWAY TOOLKIT

Red flag checklists for frauds and for scams
Sample elder and dependent adult financial abuse prevention policy
Internet links to available resources
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.