Education & Events

FinCEN Guidelines on Reporting Elder Financial Exploitation

Date: 
Jul 11, 2019
Program Overview: 

Seniors lose approximately $2.9 billion annually to financial abuse.  With baby boomers retiring every day, along with an estimated $12 trillion in wealth transfers expected to take place between generations, that number could continue to grow.  Financial institutions can play a key role in detecting, responding to, and preventing elder financial exploitation (EFE) because they are often well-positioned to detect when older accountholders have been targeted or victimized.  In addition, there are BSA requirements to report suspicious activity; FinCEN has issued advisories regarding EFE and added a specific field for reporting it on the SAR. 


 

Topics: 
  • Scope of elder financial exploitation and fraud-prevention challenges
  • EFE red flag indicators from FinCEN
  • Recognizing and preventing scams
  • Protecting seniors’ accounts
  • Best practices for reporting elder financial exploitation, including BSA and SAR requirements
  • How law enforcement uses EFE SARs
  • Tips for preventing financial exploitation
  • How to report suspected financial fraud to Adult Protective Services
  • How to provide information without violating privacy

 

  • TAKE-AWAY TOOLKIT
    • Elder financial exploitation resources
    • Example of an actual EFE scam
    • Checklist for completing a SAR that involves EFE
    • Report template for reporting suspected fraud to APS and law enforcement
    • Employee training log
    • NEW – Interactive quiz

            Speaker: 

            ABOUT THE PRESENTER – Susan Costonis, CRCM, Compliance Consulting and Training for FIs

            Susan Costonis is a compliance consultant and trainer who began her career in 1978.  She specializes in compliance management along with deposit and lending regulatory training.  Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies.  She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve.  Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado.  She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples.

            Agenda: 

            WHO SHOULD ATTEND 

            This informative session will teach frontline employees, tellers, branch managers, compliance officers, security officers, and BSA officers the scope of elder financial abuse and actions to combat this growing criminal activity.

            Fees: 

            MEMBER

            Live Webinar
                $255.00 Single Location
                $155.00 Each Additional Location

            Recorded Webinar & Free Digital Download
                $255.00

            Premiere Package (Live & Recorded Webinar with Free Digital Download)
                $375.00

            Association Contact: 

            If you have any questions or need additional information, please contact Marcy Borden at 317-387-9380 or mborden@indianabankers.org

            Cancellation Policy: 

            Within three or more business days prior to the day of an educational program, no cancellation charge will be assessed. If your bank is unable to participate after registering, you can select to purchase the on-demand presentation.

            Webinar Options: 

            1.  Live Webinar
            The LIVE WEBINAR option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered.  You may have as many people as you like listen from your office speaker phone. Registrants receive a toll-free number & pass code that will allow entrance to the seminar. Seminar materials, including instructions, pin number, and handouts will be emailed to you prior to the broadcast.  You will need the most current version of Adobe Reader available free at www.adobe.com.

            2.  Recorded Webinar & Free Digital Download
            Can’t attend the live webinar?  The recorded webinar & Free Digital web link is a recording of the live event, including audio, visuals, & handouts. We even provide the presenter’s email address so you may ask follow-up questions.  Approximately one week prior to the webinar, you will receive an email with the web link.  This web link can be viewed anytime 24/7, beginning 6 business days after the webinar and will expire 6 months after the live program date.  

            LIMITED AVAILABILITY:  The Recorded Webinar & Free Digital Download web link may ONLY be ordered for 6 months following the webinar.

            3.  Both Live Webinar & Recorded Webinar & Free Digital Download
            Includes options 1 and 2 above

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