Senior Financial Abuse and Exploitation: Understanding Red Flags, Recent Legislation and Collaborative Opportunities

  • When: August 14, 2019
  • Time: 12PM – 2PM ET
  • Level: All

New federal and state laws require financial institutions to take a more proactive role in addressing scams, theft and fraud targeting senior clients, putting financial crime professionals and financial relationship managers on the front lines for fighting this growing problem. The added obligations coincide with a fourfold jump over a four-year period in the number of suspicious activity reports (SARs) filed with the Treasury’s Financial Crimes Enforcement Network (FinCEN) that flagged potential senior abuse to 63,500 in 2017. This in-depth webinar will discuss emerging types of fraud against seniors and other vulnerable people and provide practical strategies for investigating and resolving senior financial abuse.

Learning Objectives

  • Reviewing common typologies for senior financial abuse such as opening lines of credit for no apparent purpose, anomalous spending patterns and cash-out mortgage activity
  • Understanding how to work collaboratively with law enforcement, government authorities and public interest groups, including filing SARs and assembling findings of senior exploitation
  • Examining recent senior financial abuse-related regulations and laws, including FINRA rule changes and the Senior Safe Act
  • Deterring and detecting senior financial fraud by harnessing technology to spot patterns of abuse

Who Should Attend

  • Compliance Personnel
  • Relationship Managers
  • Onboarding Officers
  • Internal Investigations Personnel

Region/Industry

  • Global
  • North America
  • Bank
  • Securities

Pricing

ACAMS Members Non-Members
$245 $445
Register Now Join ACAMS

Moderator

Liz Loewy
  • Elizabeth Loewy

  • Co-founder and Chief Operating Officer
  • EverSafe

Speakers

Charlene Cieslik
  • Melissa J. Acayan, Esq.

  • Compliance Counsel, Senior & At-Risk Clients, Global Functions Compliance
  • Raymond James Financial, Inc.


Jilenne Gunther
  • Jilenne Gunther

  • Director
  • BankSafe/AARP


Kenneth Simmons
  • Kenneth Simmons, CRCM, CAMS-AUDIT, CAMS-FCI

  • Compliance and AML Solutions

Kenneth serves on the the ACAMS- Advanced AML Audit Certification program review board. A Compliance/BSA professional serving the financial industry for over 30 years. Kenneth is the SVP, Chief Compliance / BSA Officer of Hamilton State Bank in Georgia. Subsequent to this, he served as a SVP, Compliance/ BSA Testing Division Manager for BB&T. Kenneth Served as a Compliance/ BSA Specialist Examiner for the Office of the Comptroller Currency (OCC) and the Federal deposit Insurance Corporation (FDIC). During this tenure, he succeeded as an instructor for the OCC’s Compliance Examination School and the Advanced BSA School for Examiners. Kenneth also served as the Functional Examiner-In-Charge for several Mid-size financial institutions. He was a General Auditor for a multi-billion dollar financial institution; served as a Compliance Officer for smaller Community Banks; and V.P Compliance Officer for some of the country’s largest financial institutions. Kenneth has spoken at industry conferences throughout his career and served as a panelist for The OCC, FNMA, Alabama Banker’s Association – BSA conference, and ACAMS AML Conference. He also serves as founding chairman of a Compliance/ BSA Roundtable based out of Atlanta Georgia and sponsored by the Community Bankers Association. Kenneth has been published several times including a BSA-related white-paper entitled “Learning from the mistakes of others”. This is the only white-paper ever published addressing BSA Matters Requiring Attention (MRAs) issued by the OCC. He also authored other articles including “Utilizing NAICS codes to increase the effectiveness of your BSA/AML Program”. Kenneth has a proven track record of success, helping financial institutions exceed by enhancing BSA/AML programs to exceed supervisory expectations and empowering others to succeed. Important concepts for success include “Forecasting risk is the only way to proactively control losses” and “Revenue Protection is just as important as Generating Revenue”.