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Nacha’s Payments Innovation Alliance Observes World ElderAbuse Awareness Day with New Resources to Combat Financial Exploitation of Older Americans bjaffe@nacha.org Thu, 06/13/2024 - 08:15 Image Media Elder Financial Abuse Prevention Checklists for FIs.png
The nefarious activities that underpin illicit flows, such as elderabuse, fraud scams, human trafficking, drug trafficking, and terrorist financing, have serious economic and societal impacts across Europe and beyond.
It’s June, a special month for honoring loved ones, especially parents and grandparents by raising ElderAbuse Awareness. World ElderAbuse Awareness Day is officially June 15th and it’s an ideal time to educate oneself on how to protect elders from becoming victims of financial abuse.
Did you know that today is World ElderAbuse Awareness Day ? In addition to being a passionate defender in the fight against child identity fraud , I am also an ardent supporter of elders’ financial well-being.
” EverSafe celebrates “World ElderAbuse Awareness Day” with its top tips to prevent elder financial exploitation. Wipro introduces its e-KYC solution based on its AI platform, Wipro HOLMES. The 42 looks at Lending Club and Zopa in its feature on why people “should embrace P2P lending.”
Some banks have also implemented some elderabuse protections for their customers. Source: True Link Financial. TD Bank, for example, allows customers to provide read-only access to a trusted contact so they can assist in monitoring a bank account. get the REPORT on next generation investors.
Get ready for even more fake grandchildren when it comes to payments fraud. That’s one of the sad facts of life as more consumers hit senior citizen status, and criminals gain more expertise in conning people into giving over their money.
Elderabuse and elder fraud are both endemic problems, and the consequences of hiring the wrong “expert” can often be catastrophic. But again, that is not an easy thing to hire for someone you care about, particularly at a distance.
The CFPB is asking that financial institutions file Suspicious Activity Reports (SARs) with the government when they think elder financial exploitation (EFE) is happening.
We continue to invest in solutions and advanced technologies that detect human crimes, like trafficking, elderabuse, and more. . “Our insights provide a valuable resource to help financial institutions take preventative measures to identify and stop these crimes.
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