Educate Your Elderly Customers about Financial Abuse

Two Brochures are Available

Massachusetts Bank Reporting Project

Every year, scores of senior citizens fall victim to financial abuse at the hands of con artists, bogus charities, unscrupulous contractors, and even abusive family members or acquaintances.  Over the past 12 years, the Massachusetts Bankers Association has spearheaded an effort to enlist the participation of financial institutions in the Massachusetts Bank Reporting Project, a public-private venture whereby banks may receive training to detect elder financial abuse and utilize a standard reporting protocol.

The Association wants to reminder you of the availability of two consumer brochures which banks and elder service agencies may use to educate elderly customers and clients regarding steps they can take to avoid becoming a victim of financial abuse.  The first brochure, Don’t Be a Victim—Protect Your Savings, provides tips for older citizens to protect themselves from financial exploitation.  The second brochure, entitled, Financial Exploitation of Seniors is More Common Than You Think, includes a perforated card with safety tips and the telephone number of the Elder Abuse Hotline, which seniors may contact in the case of financial abuse.  This tear-off wallet sized card is a handy reference tool.  These brochures serve to educate consumers as part of the Massachusetts Bank Reporting Project.

Also available is a laminated placard for tellers entitled, Warning Signs of Elder Financial Exploitation.  This placard may be posted at each teller station and will help tellers know what to look for when dealing with elderly customers who are prime targets for exploitation.

Widespread use of these brochures and the placard will serve to enhance relationships between banks, elder service agencies and elders while reducing the occurrence of financial exploitation in Massachusetts.  Click to download an order form. Or order online through the Association store.

If you have any questions about the Massachusetts Bank Reporting Project please contact Anne Carney at acarney@massbankers.org.