Free Resource Guide: Preventing Elder Financial Exploitation

Elder Abuse Awareness Month is observed each year in June. It’s an opportunity to consider the significant financial harm done to older Americans each year. According to the National Council on Aging, while such crimes are likely under-reported, “estimates of elder financial abuse and fraud costs to older Americans range from $2.6 billion to $36.5 billion annually.”

Elder financial exploitation is something that First International Bank & Trust takes seriously; our personal bankers are trained to recognize red flags that may be associated with such crimes. But the best defense against elder financial exploitation is awareness on the part of older Americans and those who care about them.

To that end, the Consumer Financial Protection Bureau (CFPB) and the Federal Deposit Insurance Corporation (FDIC) have prepared a resource guide entitled Money Smart for Older Adults. This free PDF guide is comprehensive, outlining a number of common ways that bad actors target older Americans and their finances.

We encourage you to download a free copy of this guide here – and share it with your loved ones. By spreading the word about elder financial exploitation, you could potentially prevent devastating financial attacks on the people we hold dear in our lives.