Financial Scams

Senior scams are serious business: The average victim loses $120,000, which adds up to an estimated $3 billion in annual losses nationwide. It’s thus a wise investment for financial institutions to do all they can to stop the financial abuse of older persons. Many banks have now introduced software to…

Perhaps this is familiar: the phone rings and your elderly parent answers to hear the voice of a frightened teen.  Thinking it’s a grandchild calling in distress, they listen to instructions about wiring money to help in this crisis. Only it’s not a crisis- it’s a scam. The elderly are…