FinCEN ISSUES ADVISORY ON ELDER FINANCIAL EXPLOITATION

On 15 June, FinCEN issued an Advisory to alert financial institutions to the rising trend of elder financial exploitation (EFE).  EFE involves the illegal or improper use of an older adult’s funds, property, or assets, and is often perpetrated either through theft or scams.  The Advisory highlights new EFE typologies and red flags since FinCEN issued its first advisory on the issue in 2011. 

https://www.fincen.gov/news/news-releases/fincen-issues-advisory-elder-financial-exploitation

https://www.fincen.gov/sites/default/files/advisory/2022-06-15/FinCEN%20Advisory%20Elder%20Financial%20Exploitation%20FINAL%20508.pdf

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