FTC report shows how elder fraud is expanding
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FTC report shows how elder fraud is expanding
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A focus on elder fraud kicks off Season 2 of the ABA Fraudcast, as Paul Benda interviews Lois Greisman, associate director of the Federal Trade Commission's division of marketing practices. They discuss Protecting Older Consumers, 2024-2025, A Report of the Federal Trade Commission, issued in December, that reveals a big increase in the number of older adults reporting losses of more than $100,000 to scams.
The ABA Fraudcast will be published every three weeks, here and wherever you listen to and subscribe to your favorite podcasts, such as Apple and Spotify. Please subscribe!
ABA offers resources to help banks prevent, identify, measure and report fraud, and to serve and protect consumers and their financial data. ABA's scam prevention campaigns #BanksNeverAskThat and #PracticeSafeChecks are newly updated as well.
ABA Fraudcast host is Paul Benda, EVP, risk, fraud and cybersecurity at American Bankers Association.