Published on 01-25-2019
Elder financial abuse - instances where fraudsters, or even unscrupulous family members, work to trick senior citizens out of their money - is on the rise. Suspected cases have doubled over the past five years, so law enforcement, the government, and financial institutions are working together to try to combat this growing concern. Coastal's VP of Risk Management, Arlene Babwah, was recently quoted in an article that appeared in the Wall Street Journal and on MSN, thanks to the work that Coastal is doing to help protect our members.
Read: "Scamming Grandma: Financial abuse of seniors hits a record" to learn more about elder financial abuse, what to watch for, and ways we're working to prevent it.