CCUL Headlines: Risk & Compliance

ACFCS to host free webinar on identifying, resolving elder financial abuse

Tuesday, January 29, 2019   (0 Comments)
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Elder financial abuse affects as many as one in five older Americans. Seniors hold nearly 80% of U.S. wealth, but may be at the greatest risk for threats that compromise their life savings. Exploiters include relatives, caregivers, professionals, and strangers.

Given the rising senior demographic and the challenges that often accompany older age, it’s critical for financial services professionals to understand how to identify, investigate, and protect customers who may be at risk.

The Association of Certified Financial Crime Specialists will host a free webinar "Identifying & Resolving Elder Fraud: Strategies for Financial Institutions" February 6 from 12:30 - 2:00 pm. This webinar addresses threats facing older adults and provide guidance on how compliance professionals can respond. Participants will learn:

  • Actual case scenarios illustrating the scope of the problem
  • Who the victims and exploiters are, and why older adults are vulnerable
  • Red flags and current scams
  • Challenges in addressing elder fraud, and strategies and tools to identify more cases
  • Reporting requirements at the federal and state level
  • Strategies and protocols to respond to potential financial abuse of vulnerable customers
  • What guidance is available from the CFPB and other government agencies

The speakers for this webinar are Naomi Karp, senior policy analyst for the Consumer Financial Protection Bureau, and Liz Loewy, co-founder and CEO of EverSafe.

This webinar is eligible for 1.5 continuing education credits and/or CFCS credit. Register here.

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