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92-year-old woman loses life savings in online scam

  • Article
  • CBS News
Earlier in 2024, CBS News shared a story about the growing epidemic of overseas online scammers robbing vulnerable Americans. There is now an update on the billions of dollars being...
Bloomberg logo 2023

Big Banks Watched as Con Men Wiped Out a Widow’s Life Savings

  • Article
  • Bloomberg
Across the Hudson River Valley, the trees were turning yellow and red when 83-year-old Annette Manes began showing up at JPMorgan Chase & Co. branches, draining them of cash. Her...
HousingWire

U.S. Treasury’s financial crimes network warns of elder exploitation

  • Article
  • HousingWire
The Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Department of the Treasury, is sounding the alarm over challenges faced by elder financial exploitation (EFE). In a newly...
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FinCEN Issues Analysis on Elder Financial Exploitation

  • Article
  • FinCEN
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis today focusing on patterns and trends identified in Bank Secrecy Act (BSA) data linked...
McKnights SeniorLiving

2 new laws strengthen reporting, investigation of older adult financial exploitation

  • Article, Featured
  • McKnights Senior Living
A new law encouraging financial institutions to do more to prevent and report financial exploitation of older adults was prompted by a family’s discovery that their loved one lost more...
Bloomberg logo 2023

JPMorgan Client Who Lost $50 Million Fortune Faces Court Setback

  • Article
  • Bloomberg
The family of an elderly JPMorgan Chase & Co. client who lost tens of millions of dollars on investments as he slid into dementia faces a major setback in their...
CUTimes

Bill Inspired by Navy Federal Member Who Lost $3.6 Million Passes Va. Legislature

  • Article, Featured
  • Credit Union Times
A bill, driven in part after a former elderly member of the $170 billion Navy Federal Credit Union who lost more than $3.6 million in an international scam, was passed...
NBC4Washington

Virginia General Assembly passes law to strengthen reporting of elder financial exploitation

  • Article, Featured
  • NBC 4
The Virginia General Assembly passed a measure to encourage banks to do more to spot, prevent and report the financial exploitation of elderly and vulnerable adults. Del. Michelle Maldonado, D-Manassas,...
Law com 02

Va. Lawmakers Strengthen Banking Safeguards to Protect Seniors From Financial Exploitation

  • Article
  • Law.com
The bill specifies that no financial institution staff member who receives the training will be liable in any civil or administrative proceeding for disclosing the suspected financial exploitation of an...
CUTimes

Court Moves Navy Federal & Wells Fargo $3.6 Million Lawsuit to Mediation

  • Article, Featured
  • Credit Union Times
A federal mediator for the U.S. Court of Appeals for the Fourth Circuit in Virginia is exploring any potential opportunities to settle a lawsuit involving Navy Federal Credit Union and...
iTnews Asia

Thailand freezes 678 bank accounts in action against online scams

  • Article
  • iTnews Asia
Thailand has frozen 678 bank accounts in six days as part of an action against scammers through its Anti-Online Scam Operation Centre (AOC), launched recently by the Thailand Ministry of...
deloitte

2024 banking and capital markets outlook

  • Article
  • Deloitte Center for Financial Services
Banks' strategic choices will be tested as they contend with multiple fundamental challenges to their business models. They must demonstrate conviction and agility to thrive....
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