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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.

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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.

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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

Vice President, Bank Community Engagement

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Press Contact

Blair Bernstein

(202) 663-5468

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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.