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Payments Industry Practices for Combatting Elder Financial Exploitation

https://www.consumerfinance.gov/about-us/events/archive-past-events/payments-industry-practices-for-combatting-elder-financial-exploitation/

Elder financial exploitation (EFE) is the illegal or improper use of an older adult’s funds, property, or assets. This can include financial abuse committed by someone the elder knows, or financial fraud committed by a stranger. This webinar will feature ways financial institutions and financial technologies that process electronic payments can play important roles in combatting EFE.

Financial institutions report widespread elder financial abuse

https://www.consumerfinance.gov/about-us/blog/financial-institutions-report-widespread-elder-financial-abuse/

The Bureau released a report about key facts, trends, and patterns revealed in Suspicious Activity Reports—or SARs—filed by banks, credit unions, casinos, and other financial services providers from 2013-2017. This first-ever public analysis provides a chance to better understand elder fraud and to find ways to improve prevention and response.