Central Bank of St. Louis
Every year, millions of seniors fall victim to financial fraud.
Studies show elder financial abuse costs seniors approximately $2.9 billion each year. In recognition of World Elder Abuse Awareness Day on June 15, Central Bank is urging older customers and their trusted caregivers to safeguard all personal information and stay alert to the common signs of financial abuse.
“Fraudsters often prey on seniors experiencing cognitive decline, limited mobility and other disabilities that require them to rely more heavily on others for help,” said Dan Westhues, Senior Vice President of Marketing and Retail Banking, Central Bancompany. “Appointing someone you know and trust to handle your financial matters aids tremendously in the fight against these crimes.”
We are offering the following tips:
If you believe you are a victim of financial abuse, be sure to:
World Elder Abuse Awareness Day was launched on June 15, 2006 by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations.
American Bankers Association, 2016