Identifying, preventing, and reporting elder financial exploitation is a serious issue.

According to the CFPB’s “Suspicious Activity Reports on Elder Financial Exploitation: Issues and Trends” Report (Feb. 2019), incidents of elder abuse have quadrupled since 2013. Financial institutions have filed more than 180,000 suspicious activities reports targeting older adults, totaling more than $6 billion.

As a relationship lender with close ties to your customers and communities, your community bank is in an ideal position to identify signs of financial abuse among your customers. ICBA has compiled a number of resources to help your bank identify, prevent, and report elder financial exploitation.