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Helping banks flag fraud against seniors

Retirees across the country are increasingly the targets of various financial frauds. One in five older consumers say they have been the victim of some form of financial abuse, according to the Consumer Financial Protection Bureau.

Despite efforts to combat it, instances of fraud abound. The Federal Trade Commission, for example, received 2.7 million reports of it in 2017. That figure covers only some of the varied kinds of fraud that can drain a person’s bank account, and makes it impossible to know the overall amount of victims’ losses.  LEARN MORE