On a compliance note, bankers are mandated reporters of suspected elder financial exploitation under many states’ laws and Federal BSA laws. In fact, FinCEN identified SARs as valuable avenues for financial institutions to report elder financial exploitation. Bankers wishing to assist their customers further may find the following resources helpful: • Call the Elder Fraud Hotline at (833) 372-8311, or visit the website by scanning the QR code. https://www.justice.gov/elderjustice/financial-exploitation • Consumer Financial Protection Bureau (CFPB): Offers a guide for reporting elder financial abuse and other resources for older adults. Check out their guide by scanning the QR code. https://www.consumerfinance.gov/consumer-tools/educator-tools/ resources-for-older-adults/reporting-elder-financial-abuse-guide/ • Eldercare Locator: A service from the U.S. Administration on Aging that helps connect older adults to local services, including Adult Protective Services. You can reach them by calling (800) 677-1116 or scanning the QR code. https://eldercare.acl.gov/Public/Index.aspx • Investopedia: This website provides information on financial elder abuse, its meaning, signs and prevention. For more details, scan the QR code. https://www.investopedia.com/terms/f/financial-elder-abuse.asp • AARP: Offers resources and information on protecting older adults from financial exploitation. Visit www.aarp.org for more details. Community bankers should be prepared to accept the superhero cape as an analysis of the Census Bureau’s National Population Projections estimates that the population aged 65 and over is expected to reach nearly 75 million, or one-fifth of the total population, by 2030. In the coming decade, there are projections that the number of rural older adults will continue to increase as baby boomers migrate from the big city to rural communities and small towns across America. We recommend reviewing the U.S. Department of Justice’s Elder Abuse Statistics for more insights. At SBS, we have a team of over 80 exceptional experts dedicated to delivering industry-leading, quality education that instills confidence and empowers you to take cybersecurity into your own hands. Our consistent training programs for your employees, board of directors and even your customers help establish trust that your organization takes cybersecurity seriously. Now, for the most important decision of your banking career: Do you prefer a camo cape or the safety orange cape? Today, bankers often find themselves becoming cybersecurity superheroes, providing cyber education to their customers via their website, social media and often over the phone for individuals who are victims of identity theft or email compromise. 25 NEBRASKA BANKER
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