FinCEN and CFPB Guidance: Elder Financial Exploitation

Financial compliance expert Timothy Dunfey will distill the latest expectations. You will learn how to update your procedures and protect your elderly clients.

Topics Covered

  • What types of elder financial exploitation are most prevalent?
  • What red flags will help you detect elder financial abuse?
  • What specific steps should your institution take to prevent exploitation?
  • How does the latest FinCEN advisory affect your organization?
  • Why is this a growing issue requiring procedural updates?
  • How should you report elder financial exploitation?
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Training Overview

Combat the rising trend of elder financial exploitation. Discover the latest guidance from FinCEN and CFPB.

The rampant growth of elder financial exploitation has made a significant impact in recent years, seeing millions of seniors fall victim to scams, frauds, and other forms of financial abuse. In response, FinCEN and CFPB guidance on Elder Financial Exploitation provides essential information and best practices for detecting and preventing this type of abuse.

Financial institutions that fail to follow these guidelines may face significant legal and reputational risks, as regulators and customers increasingly expect them to take proactive steps to prevent elder financial abuse.

You need to update your organization’s procedures to prevent the “illegal or improper use of an older adult’s funds, property, or assets.” To protect your financial institution, you must take action quickly.

  • What types of elder financial exploitation are most prevalent?
  • What red flags will help you detect elder financial abuse?
  • What specific steps should your institution take to prevent exploitation?
  • How does the latest FinCEN advisory affect your organization?
  • Why is this a growing issue requiring procedural updates?
  • How should you report elder financial exploitation?
Recommended Audience
Who Should Attend?
  • Compliance officers
  • Chief compliance officers
  • Compliance analysts
  • Risk managers
  • Compliance attorneys
  • Bank or financial institution managers
  • Bank or financial institution officers
  • Executive directors
  • Board members
  • Business unit and department managers
  • Compliance committee members
  • FCC/BSA/AML officers and analysts
What's included
Training includes
  • Certificate of Attendance
  • All resources and training materials
About

Expert Presenter

Timothy Dunfey
  • Financial crimes compliance attorney and consultant with over 20 years of experience in financial services management, sales, operations, and compliance
  • Currently overseeing legal and compliance matters for a credit card company
  • Previously Compliance Officer at Citibank, overseeing EDD for the highest risk customers, and Deputy BSA Officer at Great Florida Bank
  • As a consultant with Promontory Financial Group, represented boards regarding regulatory deficiencies, managed numerous FCC improvement projects, and conducted audits and risk assessments across a wide variety of financial institutions J.D. degree