The American Bankers Association has put forth a campaign called Safe Banking for Seniors, to educate seniors and their caregivers on the risks of financial fraud.
Did you know that about 2.9 billion dollars is lost annually due to fraud? By 2025, 30% of the United States population will be 60 years of age and older. The increasing number of seniors is expected to open up even more opportunity for financial fraud. The American Bankers Association is actively working to prevent this from happening by offering a number of resources to seniors and their caregivers to keep them aware and informed. You can sign up here to receive program updates and information as they are released.
You can also browse the resources currently listed on the Safe Banking for Seniors page:
Look Before You Leap: Is a joint bank account right for me? http://www.aba.com/Engagement/Documents/ABAAARPJointAccounts.pdf
Protecting the Elderly from Financial Abuse
Consumer Financial Protection Bureau
The American Bankers Association interactive map can help you locate banks in your area that have programs to safeguard against senior financial fraud: http://www.aba.com/communityengagement/Default.aspx?xr=t.
We urge seniors and their caregivers to take a look at these resources and to sign up to receive updates from the Safe Banking for Seniors campaign.
To report any suspected adult abuse call (within New York State only):1-844-697-3505 or contact the local county Department of Social Services Adult Protective Services – http://socialservices.westchestergov.com/adult-protective-services