user
Welcome to Compliance 911, a no-nonsense, cut to the point, style show for today’s busy bank and credit union compliance professionals. With this series of bi-weekly shows our goal is to boil down some of today’s hottest regulatory compliance topics in quick and easy to digest 5-10 minute episodes so you can get the information you want and get on with your day. We’ll be discussing topics like CRA, HMDA, Fair Lending, Anti Money Laundering, and so much more. Don’t forget to subscribe and tell a friend about us! Follow M&M Consulting and GeoDataVision us on LinkedIn to get the latest updates.
Len and Dean discuss the alarming issue of elder abuse in their 78th and 79th podcasts. Dean expresses concern, especially since he has elderly parents, and highlights recent statistics from FinCEN and the FBI on elder exploitation. Financial institutions reported over $27 billion in elder exploitation between June 2022 and June 2023. The abuse is categorized into elder scams and theft, with scams being more prevalent. The FBI’s report for 2023 shows a significant increase in scams targeting individuals aged 60 and older, causing over $3.4 billion in losses. Dean recommends reviewing FinCEN and CFPB guidelines to combat elder financial exploitation and acknowledges the FBI’s efforts in recovering some of the lost funds. Both agree on the seriousness of the issue and thank their listeners for tuning in.
Brought to you by GeoDataVision and M&M Consulting
