This project team creates educational materials, resources and tools to enable the industry to fight financial fraud. The group will work with the financial crimes ecosystem, including law enforcement and consumer advocacy groups, to amplify networking and collaboration.

Latest Update

In late February 2024, the Consumer Financial Exploitation Project Team released a new infographic that financial institutions can use to educate their customers about money mules, You could be a money mule presents seven key questions to help consumers determine if they have unintentionally been part of a money mules scheme. It also contains a section that financial institutions can customize with their contact information to facilitate reporting. This resource also comes in a letter-sized format.
 

2023 Update

The team identified elder financial abuse as a widespread problem, with more than $3 billion stolen from older Americans each year. Materials were developed for distribution during the month of June, to coincide with World Elder Abuse Awareness Day on June 15, so banks and credit unions could better assist account holders with fraud-prevention efforts and address the needs of victims by helping with reporting and asset recovery. The campaign also featured educational resources from allied groups and agencies. 

An infographic, Elder Financial Abuse Awareness, was produced. It provides key statistics on the prevalence of elder financial abuse, explains why the issue of financial fraud aimed at older populations should be of importance to financial institutions and contains links to reputable sources of information.

An Elder Financial Abuse Prevention Financial Institution Checklist was developed to help support customers.

An Alliance Member Webinar, National Consumer Protection Week Roundtable with the BBB, featuring Lisa Schiller, Director of Investigations and Media Relations, Better Business Bureau and Matt Luzadder from Kelly Drye & Warren LLP, was shared.

Please download and share these valuable resources. 

Other Resources

Hear from Kate Kleinert, an actual elderly fraud survivor sharing her story and the resulting aftermath in “Fraud Victims Advocate for Change".

AARP produced two compelling videos that address the importance of using the right words with potential victims, Why Words Matter and Let’s Talk About How We Talk About Fraud.