Letters to the Editor

The Banking Industry is the Frontline for Protecting the Elderly from Financial Abuse

60a276448a8d533c8909_mini_magick20170611-10929-13zdugj.jpg
60a276448a8d533c8909_mini_magick20170611-10929-13zdugj.jpg

Older Americans are increasingly becoming targets for fraud and financial exploitation. Persons over the age of 50 control more than 70% of the nation’s wealth. Many seniors do not realize the value of their assets (particularly homes that have appreciated markedly).*

Fraudsters target older Americans because they may be experiencing cognitive decline, limited mobility or other disabilities that require them to rely on others for help. Seniors who live in isolation and have chronic conditions have become even bigger targets.

Banks are often the front line of defense in protecting their elderly customers from financial abuse so bankers are trained to look for signs that may indicate abuse.

Sign Up for E-News

Banks are well-positioned to detect, prevent and report elder financial abuse. They continuously enhance their capacity to spot elder financial abuse through on-going training and enhanced fraud detection technologies. Frontline staff members observe and engage customers on a daily basis, enabling them to serve as one of the first lines of defense. Banks maintain a wide variety of internal protocols and procedures to protect customers from this abuse. The types of warning signs bankers look for include unusual account activity, unpaid bills or eviction notices, suspicious signatures, new “best friends,” and new powers of attorney or altered wills.

Everyone can use these warning signs to help protect relatives, friends and neighbors. The best way to protect your loved one is to watch out for red flags and help them take simple steps to safeguard their personal information.

NJBankers is doing its part to help by partnering with Senior Crimestoppers (http://www.seniorcrimestoppers.org/ ) whose mission is to keep nursing home residents free from theft, abuse, neglect, financial exploitation, and other crimes and actions. The banking industry funds the entire program. 

No one who has worked a lifetime for their assets should have to be subjected to financial exploitation. If you suspect elder financial abuse, we encourage you to speak with local police and Adult Protective Services in the appropriate town to report the issue.

The opinions expressed herein are the writer's alone, and do not reflect the opinions of TAPinto.net or anyone who works for TAPinto.net. TAPinto.net is not responsible for the accuracy of any of the information supplied by the writer. Click here to submit a Letter to the Editor.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

East Orange/Orange

Corporate, Civic Leaders and Celebrities Set to “Swing” into Action at 58th Annual Men of Essex Charity Golf Classic

June 23, 2018

ESSEX COUNTY - Scores of northern New Jersey’s corporate and civic leaders along with a host of celebrities plan to join the Men of Essex, in their efforts to raise $50,000 at its 58th Annual Golf Classic. The prestigious charity event will be held at the Cedar Hill Golf & Country Club, 100 Walnut Street, Livingston, New Jersey, on Monday, August 13, 2018. Registration and lunch begins ...

East Orange Family Success Center Hosts Juneteenth “Family Freedom Day 2018” 

June 18, 2018

EAST ORANGE, NJ – The East Orange Family Success Center will be hosting a Juneteenth “Family Freedom Day” at the Ambrose Mansion 182 South Harrison St., East Orange this Saturday, June 23rd 12:00 - 5:00 PM.

Juneteenth is a celebration of African-American history and heritage. This American holiday commemorates the June 19, 1865 announcement of the abolition of ...

Essex County Executive DiVincenzo Announces Winners of Fishing Derby at South Mountain Recreation Complex

June 19, 2018

West Orange, NJ – Essex County Executive Joseph N. DiVincenzo, Jr. and Essex County Parks Director Dan Salvante congratulate Pedro Ildefonso from Orange for catching the first fish in the boys’ 6-10 age category during the Essex County Fishing Derby in Essex County South Mountain Recreation Complex on Thursday, June 14th. He caught four fish.

Gen Z on Twitter - Influencers and Trends

In the last article, we discussed the main differences between Gen Z and Millennials in terms of their favorite social networks. We also looked in detail at what they do on Facebook and the fact that less than half of Gen Z used it, as compared to nearly three-quarters of Millennials.

This time, we will look in more detail at what the 13% of Gen Z who use Twitter do on that network.

As we ...

Gen Z: Social Media is What It’s All About

In the last article, we looked at Gen Z’s very heavy music consumption on their smartphones, and their willingness to pay for online music services.

In this article, we want to focus on another main activity Gen Z does on their smartphones: engage with others on social media.

Here the patterns are very different from Millennials. In response to the question, "Which of the ...

Gen Z Music Consumption — a Marketing Gold Mine?

In the last article, we discussed the many things that Gen Z do on their smartphones. The main one is listening to music. 

This time, we want to look at their music consumption in more detail to see what marketing doors their patterns can open.

How Often Do They Listen to Music?

In a recent survey, 84% of Gen Z report listening to music every day on their smartphone, as compared ...

Upcoming Events

Carousel_image_5e177eaae57739064cd4_397f63ad2fb50392a776_29178074_2107642336134787_2638697507160326144_n

Sun, June 24, 11:00 AM

Totowa

MakerFest 2018

Carousel_image_db027a04f103c81952b6_img_9030_m

Sun, July 8, 2:00 PM

Suzy Que's BBQ & Bar , West Orange

Arts For Kids 4th Annual "Not Just Jazz & BBQ ...

Arts & Entertainment

Susan G. Komen North Jersey Increases Program Funding by 15% for 2018-2019 and Awards 13 Grants to 11 Local Community Non-Profit Organizations

June 21, 2018

Susan G. Komen North Jersey Increases Program Funding by 15% for 2018-2019

and Awards 13 Grants to 11 Local Community Non-Profit Organizations

EAST ORANGE, NJ  – Susan G. Komen North Jersey announced that it will award a total of 13 grants to 11 local community non-profit organizations in its nine-county service area for 2018-2019, with an increase in total program funding at 15% ...