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Course description

This dynamic webinar provides an in-depth review of the major problems with elder fraud.  The people most likely to abuse a senior citizen will be family members, caregivers and career criminals, both in person and by telephone.  In this program you will learn what makes seniors a target and how criminals identify them.  We will explore the different types of abuse and what abusers use to intimidate the senior citizen and get them to drop their guard.    

We’ll discuss the major tools of elder financial exploitation—

  1. Forging the senior’s signature
  2. Misusing the senior’s money 
  3. Stealing the senior’s money
  4. Forcing the senior to sign contracts
  5. Changing the senior’s will 

 

All these methods and more serve the criminal well in taking over a person’s wealth.  In this fast-moving session you will learn our duties as banking professionals.  You will know how to compare and distinguish normal banking transactions from suspicious or unusual banking transactions that seniors will be conducting.  You will ask questions about when did the senior citizen start using digital banking along with what they are purchasing with those transactions —  perhaps items that would seem unusual for a senior, such as  tickets to college concerts or events or items that would benefit a caregiver, rather than the senior citizen.   

You will learn how to handle unusual events like the senior citizen arriving at your branch wanting to add someone to their CD or bank accounts. When you notice the caregiver has become the only person handling the senior’s account, you will know to approach them to find out what is happening.  You will learn what to do when family members or caregivers won’t allow you to contact the senior citizen who has suddenly stopped coming to your banking office.

When a senior citizen gets involved with scams or is taken advantage of by caregivers the financial institution may have to file a SAR and contact Adult Protective Services (APS).    Many financial institutions consider APS to be worthless because they don’t understand the laws that determine when APS can get involved.   Each state has its own requirements for when APS can take a case, and your bank needs to understand those requirements. We will discuss how you can get that information before you have a potential elder abuse problem.    When you know what your state requires for physical abuse, sexual abuse, psychological abuse, neglect, and financial abuse you can prepare a checklist.  On the day staff comes to you with a suspected elder fraud case you will know the exact items you must have before calling Adult Protective Services. 

We will also discuss when a bank should handle a senior customer who has become abusive to the bank’s staff. Knowing when and how to close an abusive senior’s account can help a bank avoid potential losses. It can also avoid negative publicity in the event the senior does lose funds to a fraudster.

 

Instructor(s)

Barry Thompson

Barry Thompson, the author of 101 Security Tips for the Beginning Security Officer, is known as “The Fraud Educator.” He has worked in the financial services industry for over three decades, holding the positions of security officer, compliance officer, treasurer, senior vice president, and executive vice president. He is the only fraud educator in his industry that has worked in senior management positions, which affords him unique insight into financial institutions.Over the course of his career, Barry handled over 900 security cases. He has been involved with investigations and prosecutions on the federal, state, and local levels, and has testified before grand juries, county courts, bankruptcy courts, family courts, and the New York State Supreme Court. As a security specialist for America’s Community Bankers*, Thompson was involved in all phases of organizing the National Operations, Technology and Security Conference, including designing and overseeing the conference’s security track, hiring conference speakers, and writing the conference manual. Barry is an in-demand, internationally-recognized speaker where he has made fraud, theft, and security presentations to groups throughout the country, in Europe, and at the United Nations. Recognizing the increasing importance of compliance in the banking industry, he became a Certified Regulatory Compliance Manager in 1997. Barry has attended prestigious schools held by the American Bankers Association and America’s Barry Thompson “The Fraud Educator” Biography Community Bankers*. Among them are the National Trust School, held at Northwestern University, the National Compliance School, held at the University of Oklahoma and Emory University, and the Investment School at Fairfield University. He has put his knowledge and expertise to use as an instructor for both the Credit Union National Association’s Security Institute and the Tennessee Bankers Association’s Southeastern School of Banking held at Vanderbilt University. Barry is also a writer who contributes to Bankers’ Hotline, bankersonline.com, and other industry publications. He is the security and compliance “guru” for bankersonline.com, and has been interviewed by Newsweek, Consumer Reports, and other national and regional publications. Today, his firm focuses primarily on training at national and state conferences and conventions and in-house to banks and credit unions, from physical security to computer security. This includes in-depth instruction on identity theft, internal fraud, scams and schemes, conducting investigations, social media and bank robbery. To date, he has trained more than 26,000 financial professionals—and growing.

Course curriculum

  • 1

    Webinar

    • Access Webinar
  • 2

    Materials

    • Slides

    • Questions and Answers

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