BIRMINGHAM, Ala.–(BUSINESS WIRE)–Regions Bank on Monday announced a series of resources available to help people recognize and stop senior financial exploitation. The resources are part of Regions Next Step, the bank’s no-cost financial education program that serves people of all ages, regardless of whether they bank with Regions.
June 15 is World Elder Abuse Awareness Day, and with more than 10,000 Americans turning 65 every day, keeping seniors safe from financial abuse is increasingly important. According to the National Council on Aging, the annual loss by victims of financial abuse is estimated to be at least $36.5 billion. Identifying and reporting financial abuse is often difficult for seniors, especially because it can often be caused by someone they trusted or who seemed like they were offering legitimate help.
“It is incredibly disheartening for anyone to recognize they have been scammed, and that’s why it’s so important to empower people with information about common forms of fraud,” said Kate Danella, head of the Consumer Banking Group for Regions Bank. “One of the strongest defenses against fraud is a well-informed public. When people know what to look for, they can often stop financial exploitation from ever succeeding. And here at Regions, we are working to do our part every day. From building strong relationships with customers, to looking out for warning signs and routinely asking questions about transactions and transfers, our…