Jump to Content
ABA: The American Bankers Association
Compliance News

CFPB Releases Guide to Building Elder Fraud Prevention Networks, ABA Foundation Offers Tools on Elder Financial Exploitation

To mark World Elder Abuse Awareness Day on June 15, the Consumer Financial Protection Bureau released resources on building networks to detect and prevent elder fraud. Networks among key stakeholders—including financial institutions, law enforcement, Adult Protective Services and senior-serving businesses and nonprofits—can enhance banks' ability to identify and stop senior fraud, the bureau said. The guide include resources for organizing a network retreat, convening stakeholders, expanding network capabilities, facilitating meetings and more. 

Access the resources

The ABA Foundation through its Safe Banking For Seniors program offers new resources to help bankers combat financial exploitation and fraud against older adults. These resources include tips for avoiding coronavirus-related scams, social security scams and tech support scams, as well as social media tools to help engage seniors during the pandemic.

Access the updated tools