06/15/2021 | News release | Archived content
Metairie, LA (June 15, 2021)-Metairie Bank and the Senior Housing Crime Prevention Foundation (SHCPF) are providing tips for preventing the disturbing trend of elder financial abuse in recognition of World Elder Abuse Awareness Day on June 15.
Older Americans lose roughly $3 billion to a growing number of scams each year, according to the United States Senate Special Committee on Aging. But only one in 44 cases get reported, according to the National Adult Protective Services Association, putting the true cost as high as $35.5 billion annually.
As financial stewards of the community and trusted lenders, Metairie Bank takes a number of preventative steps to identify, prevent and report suspicious activity for the protection of our customers. But we want to ensure all Louisiana residents are equipped to recognize the warning signs and take steps to protect themselves or their loved ones so together we can stop bad actors from robbing millions of Americans of their financial nest egg.
Metairie Bank and SHCPF offer the following suggestions to help curb the rising tide of elder financial abuse:
"Community bankers are often relied upon as the front line of defense in the protection of their customers and as providers of prevention education and information for elderly customers and their adult children," SHCPF President and CEO David Lenoir said. "Call on your local community banker, to help identify prevalent scams and safeguard your hard-earned financial future."
To learn more about elder financial abuse and prevention strategies, visit https://shcpfoundation.org/cra-partners/