Independent Banker - June 2021 - 12

CURRENCIES
THE LEDGER
Thwarting elder financial abuse
Elder financial abuse robs older Americans of billions of dollars in money, property
and other assets every year. As those safeguarding their customers' finances,
community bankers are key watchdogs for monitoring and preventing this abuse.
By the numbers: Elder financial abuse
5%
of seniors
become victims of
financial abuse.
Some estimates
go as high as 20%1
1 in 24
cases of
financial elder
abuse are
reported2
$3 billion to
$36.5 billion
The amount lost by older
Americans to financial
abuse each year1
What does elder financial abuse look like?3
Who are the
perpetrators?3
47%
Family members
8%
22%
Acquaintances
Other
14%
Nonfamily
caregivers
Phone or
other scam
Personal
property,
real estate
or rent
17%
Other (scams, etc.)
14%
Medication
theft
Unauthorized
use of debit or
credit cards
10%
10%
48%
Stealing money
10%
The signs of
¿QDQFLDO HOGHU
abuse4
Sudden changes in
banking behavior
or to financial
documents
*
Unexplained
disappearance
or transfer of
funds or assets
*
Using unnecessary
bank products
and services
*
Poor
financial
decision-making
12 Q ICBA Independent Banker Q June 2021
1: Consumer Reports, September 2015 2: New York State Office of Children and Family Services 3: Oregon Department of Human Services, September 2014 4: National Center on Elder Abuse

Independent Banker - June 2021

Table of Contents for the Digital Edition of Independent Banker - June 2021

Table of Contents
Independent Banker - June 2021 - Intro
Independent Banker - June 2021 - Cover1
Independent Banker - June 2021 - Cover2
Independent Banker - June 2021 - Table of Contents
Independent Banker - June 2021 - 2
Independent Banker - June 2021 - 3
Independent Banker - June 2021 - 4
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Independent Banker - June 2021 - Cover3
Independent Banker - June 2021 - Cover4
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