Detailing Best AML Practices for Preventing Elder Financial Exploitation

  • When: March 28, 2018
  • Time: 12:00 PM – 2:00 PM ET
  • Levels: All

Each year, older adults and vulnerable people of all ages lose more than $3 billion to exploitation, with financial institutions losing $1 billion in deposit fraud. Adults over 50 years old control more than 70 percent of the United States’ wealth, which is why this group remains a popular target for criminals using new tactics to abuse and financially exploit retiring baby boomers and the growing number of older and vulnerable adults. Join our panelists as they review typologies, warning signs and reporting barriers; analyze recent case studies and detail legal remedies to address exploitation.

Learning Objectives

  • Reviewing current policies, procedures and training to ensure they identify and report transactions tied to crimes against older and vulnerable adults
  • Analyzing typologies and red flags including transactions that are inconsistent for older adults or uncharacteristic attempts to wire large sums of money
  • Ensuring proper handling of client finances through effective due diligence, monitoring, early detection and reporting on designated fiduciaries
  • Establishing relationships with law enforcement to investigate alerts and gain insights into financial exploitation trends

Who Should Attend

  • Relationship Managers
  • Onboarding Officers
  • Internal Investigations Personnel

Region/Industry

  • Global
  • North America
  • Bank
  • Securities

Pricing

ACAMS Members Non-Members
$195 $295
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Moderator

Michael Schidlow
  • Michael S. Schidlow, CAMS-Audit

  • SVP; Head of FCC and Emerging Risk Audit Development
  • HSBC Bank, USA

Speakers

  • Karen Cornell, CAMS

  • VP Senior Audit Consultant
  • Bank of New Hampshire

Maria Dodson
  • Maria Dodson, CAMS-FCI

  • Vice President, BSA/Fraud Department Manager
  • F&M BANK