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

NewsByte
ABA urges CFPB to reconsider financial abuse reporting rule
April 07, 2025
NewsByte
ABA Foundation releases report on state hold laws to prevent elder financial exploitation
March 31, 2025
Press Release
ABA Foundation Releases New Report on State ‘Hold’ Laws and Elder Financial Exploitation Prevention
March 31, 2025
Press Release
ABA Foundation Partners with FBI to Release New Infographic Educating Consumers on Tech Support Scams
March 13, 2025

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FinCEN Analysis

Between June 2022 and June 2023, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) found that over 155,000 BSA filings amounted to roughly $27 billion in elder financial exploitation related suspicious activity.

Read the Report

Related Training & Events

Protect your Customers from Crypto Investment Scams
Upcoming Webinar | May 21, 2025 | 3 - 4 PM ET

Learn more about this scam, how to protect your customers and available resources during this free webinar hosted by the ABA Foundation, Commodity Futures Trading Commission, Department of Homeland Security and FDIC.

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