Teaching bank and credit union employees to spot elder abuse and exploitation made a world of difference.
Financial exploitation of older Americans seems to be getting worse. The Treasury Department reported a 17% increase in the number of cases in 2017 vs. 2016, the latest figures available. And the Center for Financial Services Innovation says at least 20% of older adults have been victims of elder financial fraud. But there’s one piece of encouraging news on this otherwise depressing front.
“We’re thrilled with the results,” said Debra Whitman, executive vice president and chief public policy officer at AARP. “Working with the [financial] industry, we are making it more difficult for individuals to take advantage of older adults.” Jilenne Gunther, national director of the BankSafe Initative at AARP Public Policy Institute, said the key was teaching employees how to spot the red flags of exploitation and then being empowered to report situations to their managers, to Adult Protective Services, and to law-enforcement officials.Once bank and credit union representatives saw attempts at financial exploitation, they often delayed suspicious transactions or put a hold on accounts.
Elder fraud “perpetrators target everyone, regardless of how much money they have in their account,” Gunther said. The future for BankSafe AARP is so pleased with the BankSafe results it plans to expand the program to other financial institutions nationwide.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Beware the Gift Card Scam: How One Family Learned the Hard WayScammers are calling or emailing people, often seniors, under a variety of pretenses—grandchildren, tech support, tax collectors, etc.—that culminate in requests to purchase retail gift cards.
Baca lebih lajut »
Alton Brown's Classic Brined and Roasted Turkey RecipeThis roasted turkey recipe stays moist, thanks to a genius, simple brine.
Baca lebih lajut »
Why Paris Hilton Thinks A Simple Life Reboot Isn't So HotParis Hilton shared her thoughts on a Simple Life reboot in the near future.
Baca lebih lajut »
19 Essential Thanksgiving ToolsDo you have what it takes to pull off a great Thanksgiving? Namely, do you have poultry shears?
Baca lebih lajut »
Why Do I Start Coughing After Running in Cold Weather?And how to prevent it from happening in the first place.
Baca lebih lajut »