Older adults lose billions of dollars to financial exploitation annually, and it’s getting worse. Elder financial exploitation — the illegal or improper use of an older person’s funds, property, or assets — is a devastating crime. Victims of such abuse can lose the ability to pay for necessities like food, housing, or medicine. The exploitation can also take an emotional toll, causing intense fear, shame, anxiety, and depression.
By 2030, 20% of America will be age 65 or older— it’s critical to address the issue now. According to the 2021 ABA Foundation Older Americans Benchmarking Report:
Access everything you need to serve and protect older customers in your community. Whether you're interested in federal advisories, banker training, consumer outreach materials, helpful guides, or other resources, visit aba.com/OlderAmericans.
Contact: [email protected]This 2021 survey was designed to capture data on how banks educate older Americans, respond to fraudulent activity and train their staff to protect older customers.
Read the Full Report