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Data Spotlight: Suspicious Activity Reports on Elder Financial Exploitation

Financial institutions file Suspicious Activity Reports (SARs) to report suspected financial crimes to the federal government. Filers can indicate in their SARs whether the suspicious activity involves elder financial exploitation (EFE). Law enforcement can access the SARs and use the information to conduct investigations and potentially stop EFE. In 2020, financial institutions filed over 62,000 EFE SARs involving over $3.4 billion. This data spotlight describes patterns and trends in filings from 2014 to 2020.

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Related resources

Memorandum on financial institution and law enforcement efforts to combat elder financial exploitation

Recommendations and report for financial institutions on preventing and responding to elder financial exploitation

Suspicious Activity Reports on Elder Financial Exploitation: Issues and Trends

Networks page & Network Development Guide

Money Smart for Older Adults