PIA Updates Elder Fraud Tools

Nacha's Payments Innovation Alliance, a membership program in which ePayResources participates that brings together stakeholders to transform the payments industry, has updated its tools to help financial institutions educate the public about the prevalence of elder financial exploitation and how to assist account holders who may have been targeted.

To address this growing issue, the Alliance’s Consumer Financial Exploitation Project Team has developed an infographic providing key statistics on the prevalence of elder financial exploitation, as well as an Elder Financial Exploitation Awareness Financial Institution Checklist designed to help banks and credit unions assist customers who may have been targeted.

The release of these resources helped mark World Elder Abuse Awareness Day on June 15, a program created by the United Nations in 2011 to provide an opportunity for communities around the world to promote a better understanding of abuse and neglect of older persons by raising awareness of the cultural, social, economic and demographic processes affecting elder abuse and neglect.

Click Read More below to see the complete press release.