Elder Financial Abuse - On-Demand Course
Financial Elder Abuse is viewed as one of the fastest growing crimes in the US. As of the last census, over 41 million citizens were identified as aged 65 and older. This represents over 18% of the population. By 2030, the number could reach almost 75 million!
Why should you be concerned? Money!
These individuals hold nearly 70% of all savings deposits in commercial banks, nearly 80% of dollars in savings institutions and 80% own their homes. Because of the vast holdings, these individuals are easy targets for abuse. Bloomberg estimates these losses at almost 37 Billion a year! This session will include:
- What constitutes as financial elder abuse
- Identification of "Mandatory Reporter" (the laws vary by state)
- What you can do to protect these individuals at your institution