ACAMS New York Chapter March Virtual Event: Identification and Prevention of Elder Abuse and Financial Exploitation
Elder Financial Exploitation(“EFE”) occurs when a person misuses or takes the assets of a vulnerable adult for their own personal benefit. This frequently occurs without the explicit knowledge or consent of a senior or disabled adult, depriving him/her of vital financial resources for their personal needs. A strong partnership between financial institutions and government agencies can help to identify this issue early on and prevent financial damage to the senior. The panel will discuss common red flags and vulnerabilities, proper escalation protocols, regulatory guidance, and will review several case studies to demonstrate the red flags within real world examples.
Each speaker will provide key takeaways to assist financial crime professionals with understanding the risks of Elder Financial Exploitation.