Recognizing & Preventing Financial Abuse For Those You Serve
Abstract:
Financial exploitation has been called “the crime of the 21st century” with one study suggesting that older Americans lost at least $2.9 billion to financial exploitation in 2011 by a broad spectrum of perpetrators, including persons they know and trust, as well as strangers. Cognitive impairment diminishes the ability of some older adults to make financial decisions and to detect frauds and scams. This epidemic is under the radar. The cases tend to be very complex and can be difficult to investigate and prosecute. Elders who lose their life savings usually have little or no opportunity to regain what they have lost. Elder financial exploitation can result in the loss of the ability to live independently. It can also result in a decline in health, broken trust, and fractured families. Awareness is the first step. Planning ahead for financial wellbeing and the possibility of diminished financial capacity is critical. Reporting and early intervention are vital to preventing loss and recovering loss when possible. Money Smart for Older Adults is designed to provide you with information and tips to help prevent common frauds, scams and other types of elder financial exploitation in your community. Please share this information with others.
Source:
This course was created by the FDIC and the Consumer Financial Protection Bureau and will be heavily supplemented with material from elder care attorneys, bank officers, law enforcement and financial consultants with experience in the field. Complete information and all course materials can be found here: https://www.fdic.gov/consumers/consumer/moneysmart/olderadult.html
Moderator:
Gregg Schlaudecker, CLU, ChFC- Emerald College Planning LLC
Panelists:
Catherine Johnson, Director, Guilford County Family Justice Center
Detective SGT Dale Nix, Greensboro Police Investigative Bureau
Hannah Vaughan, JD - Vaughan Legal PLLC, Legal Consultant for Corporation of Guardianship
Darryl Griffin,
Guilford County Adult Protective Services Supervisor
3 hours NC Insurance Ethics CIE. Will be reported with NC as two courses: a 1-hr and a 2-hr course
3 hours NC CLE, NC CPE, CFP (
not ethics, one course)
Course 209740, 2 hours ethics CIE, 105 minutes
2pm-4pm
Common Types of Financial Exploitation
Course 209741, 1 hour ethics CIE, 55 mins
4pm-5pm
Tools for professional advisors
NOTE: This is the second time we are offering these courses; we taught these courses in Dec 2018. If you need Ethics CIE for your current biennial period, please check your CIE record here to ensure you have not taken these courses within the last two years. Complete NC info here.
HOLIDAY SOCIAL
5pm-6:30pm All are welcome