CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow How to Stop Elder Financial Abuse Before it Starts
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
How to Stop Elder Financial Abuse Before it Starts PDF Print E-mail
Tuesday, 14 June 2016
WASHINGTON — In recognition of World Elder Abuse Awareness Day on June 15, the American Bankers Association’s Foundation is working to combat financial abuse of older Americans. A recent study estimated older adults lose $2.9 billion each year to fraud. 

“Americans 50 years and older control more than 70 percent of our nation’s wealth, making them prime targets for exploitation,” said Corey Carlisle, executive director of the ABA Foundation. “One of the first steps toward prevention is to have conversations with the important people in your life, including your banker, about how you can work together to safeguard your money and personal information.”

To help older Americans and their caregivers protect themselves or their loved ones from financial abuse, the ABA Foundation is offering the following tips:

Plan ahead to protect your assets and to ensure your wishes are followed. Talk to someone at your financial institution, an attorney, or financial advisor about the best options for you.

Carefully choose a trustworthy person to act as your agent in all estate-planning matters. Select someone who has your best interest at heart.

Never give personal information, including your Social Security Number, account number or other financial information to anyone over the phone unless you initiated the call and the other party is trusted.

Stay alert to common scams targeting elder adults. Never pay a fee or taxes to collect sweepstakes or lottery “winnings.”

Never rush into a financial decision. Ask for details in writing and consult with a financial advisor or attorney before signing any document you don’t understand.

Check references and credentials before hiring anyone. Don’t allow workers to have access to information about your finances and make sure to lock up your checkbook, account statements and other sensitive information when others will be in your home.

Pay with checks and credit cards instead of cash to keep a paper trail.

You have the right not to be threatened or intimidated. If you believe you are a victim of elder financial abuse, contact your local Adult Protective Services, tell someone at your bank or call your local police for help.

World Elder Abuse Awareness Day was launched on June 15, 2006 by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations.
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197