ABA initiates effort to protect seniors against financial fraud, abuse.

• Position: AROUND THE ABA - Brief article

ABA'S COMMUNITY ENGAGEMENT FOUNDATION is developing tools and resources to help bankers discuss fraud prevention with their customers.

The program resources will range from event marketing and communication guides to PowerPoint presentations, similar to the Foundation's youth financial literacy programs, Teach Children to Save and Get Smart About Credit.

The Foundation is also engaging national stakeholders to identify local organizations for banks to partner with in their communities. Not only will these education efforts empower seniors to protect their assets and identities, but they will also secure the trust older customers and their families have in their banks. These resources will be available in early 2016.

It is estimated that adults over 50 years of age hold twothirds of bank deposits across the country, making this age group a prime target for scammers. Senior fraud currently accounts for $2.9 billion in losses each year--and could grow as the population...