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ABA: The American Bankers Association

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 here.

Related Training & Events

  • Tackling Money Mules

    Recorded Webinar | December 10, 2020

    Join the ABA Foundation this December for an important discussion about money mules.

  • Elder Financial Exploitation

    Self-Paced Training

    Explains the forms of financial exploitation and how to recognize telemarketing schemes and online financial exploitation. Explores the characteristics of seniors that make them targets of financial exploitation. Analyzes the state and federal laws concerning elder financial exploitation and how banks play a significant role in recognizing victimized seniors.

CFPB finds trends in elder abuse reports

CFPB’s report offers insights into elder financial exploitation and how your financial institution can improve prevention, reporting, and response.

Read the report

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

Our Experts

Sam Kunjukunju

Sam Kunjukunju

Senior Director, Banker Comm Engagement, Community Engagement

Contact Sam
Rob Rowe

Rob Rowe

VP & Senior Counsel, Consumer and Regulatory Compliance

Compliance

Contact Rob

Press Contact

Blair Bernstein

(202) 663-5468

Contact Blair

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ABA Foundation Webinars

Safe Banking for Seniors webinars that focus on prevailing scams, bank outreach to older adults and financial industry guidance on protecting seniors.