Summit Helps Banks Address Financial Exploitation

February 19, 2015

ATLANTA – Georgia’s aging experts will train banks to spot, report, and prevent exploitation in a statewide summit on March 20. The event for financial professionals, organized by the Department of Human Services Division of Aging Services, features top Georgia leaders from the public and private sectors. 

 “Older adults and adults with disabilities are frequent targets of financial exploitation, and that risk is growing with the rise in technology” said Dr. James Bulot, Director of the Division of Aging Services.  “We must arm banks with new tools and techniques to help them stop exploitation, whether perpetrators are overseas scammers or close relatives.”

Summit headliners include directors of the Georgia Bureau of Investigation, the Georgia Bankers Association, the Prosecuting Attorney’s Council of Georgia, and AARP Georgia.  They will kick off an agenda that addresses the identification, reporting, and prevention of financial exploitation; information that prosecutors need to combat abuse; challenges for the banking industry; and potential solutions.

Nationally, victims of elder financial crimes and exploitation lose nearly $3 billion per year.  Crimes and exploitation can take many forms, such as identify theft, fraud, and the illegal or improper use of an at-risk adult’s funds, property, or assets. The threat of exploitation affects a wide range of vulnerable adults.  People with dementia are at risk, as are adults with intellectual disabilities, and anyone with diminished cognitive skills.

All Georgians can help in the fight against financial exploitation.  Georgia’s statewide Adult Protective Services (APS) team accepts reports of suspicious activity by phone, by fax, and online.  To contact APS about the abuse, neglect, or exploitation of an older person or an adult with a disability in community or residential settings, the public should call DHS Adult Protective Services Central Intake, toll-free, at 866-552-4464. In any emergency, the public should call 911.

To request a brochure, schedule a presentation, or volunteer, the public may contact the Division of Aging Services at 866-552-4464 or visit http://www.aging.ga.gov.

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