Elder Financial Exploitation

Older adults are a growing population in the United States as well as a growing target for scams. ABA and the ABA Foundation provide resources and tools to help you understand and address elder financial exploitation (EFE). Find federal guidance and legislation that protect seniors.

News

Podcast
Podcast: Trends and tips for preventing grandparent scams
October 20, 2022
NewsByte
Report: Elder financial exploitation on the rise
October 06, 2022
NewsByte
ABA unveils new videos on scams targeting seniors
September 12, 2022
Press Release
ABA Foundation Releases New Videos to Raise Awareness on Senior Scams
September 12, 2022

View All News

Related Training & Events

Top Scams Against Consumers
Recorded Webinar | March 7, 2023

Join ABA Foundation and the Better Business Bureau Institute for Marketplace Trust to learn about top scams and their effects on different demographics of Americans. Find out the riskiest scams from the past year in the 2022 BBB Scam Tracker Risk Report.
Combating Elder Financial Exploitation
Recorded Webinar | October 27, 2022

Join the ABA Foundation and the Department of Justice for a free webinar that will help you recognize signs of elder financial exploitation and offer strategies to protect your older customers against this growing problem.
Bank Partnerships to Protect Seniors
Recorded Webinar | June 15, 2022

Join ABA Foundation on June 15, World Elder Abuse Awareness Day, to hear a panel of experts talk about connecting with community partners to help safeguard seniors from financial exploitation.
Elder Justice: Why do Scammers Target Older Adults? How can We Help Protect Them?
Recorded Webinar | May 23, 2022

Experts will review the factors that increase vulnerability to scams, describe the emotional toll on victims and families, and provide concrete ways in which we can work together to protect older adults and others in our communities.

View All

FinCEN Advisory on Elder Financial Exploitation

FinCEN issued an advisory highlighting new scam typologies and elder financial exploitation red flags in response to rising criminal activity targeting America's seniors.

Access the Advisory

State Laws and Resources

Reporting Elder Financial Exploitation

Banks should report suspected elder financial exploitation to all appropriate federal, state, and local authorities. Banks should also file a Suspicious Activity Report (SAR) with FinCEN explaining any suspected financial abuse activity. Include the term “elder financial exploitation” and the victim’s information in the narrative portion. Do not report the victim as the subject of the SAR. For more information, visit FinCEN.

Safe Banking for Seniors

An ABA Foundation program to help banks educate their communities on combatting elder financial exploitation. Register to access free resources on avoiding scams, preventing identity theft and financial caregiving.

Join the Initiative