Combating Elder Financial Abuse and Fraud: Insights from the Public and Private Sectors
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 Export to Your Calendar 5/23/2018
When: Wednesday, May 23rd
1:00 - 2:30 PM ET
Where: Via On24

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Complimentary Webinar, with Presenters from Western Union and the Consumer Financial Protection Bureau

Driven by demographic changes and opportunistic criminals, financial exploitation and fraud targeting older adults is on the rise.

A surge in elderly individuals means the problem is only going to get worse. According to the Census Bureau, the elderly population in the United States will more than double between now and the year 2050, to 80 million. Many other nations, including Canada, Japan and EU states, face similar trends.

Financial institutions are a key line of defense against elder financial abuse, but detection and prevention remain challenging. On this webinar, expert presenters will provide insights on regulatory guidance, reporting on suspected cases of elder exploitation, real-world examples of preventative controls, and more.

Attendees will learn:

  • Current and emerging fraud schemes targeting elderly individuals
  • Resources and guidance from regulatory agencies that can support programs to prevent elder financial abuse
  • Tips and considerations for reporting suspected fraud and exploitation, including insights on balancing customer protection with privacy considerations
  • Case studies and examples of how elder financial abuse protections play out from the financial institution perspective.

This webinar is eligible for 1 continuing education credit and/or CFCS credit. A recording of the presentation, slides, and certificate of participation will be available for ACFCS members only.


About the Presenters

Dan Marostica, Head of Consumer Protection, Western Union

Dan Marostica is Western Union's Global Head of Consumer Protection Compliance where he is responsible for leading the Company's anti-consumer fraud and Dodd-Frank compliance programs. He has been with Western Union for 26 years and has served in leadership roles in the Western Union Customer Care and Global Operations organizations, as Vice President International Contact Centers, Vice President International Operations (Brussels, Belgium), and Director - Latin America Regional Operations Center (San Jose, Costa Rica). Dan received his Bachelor's Degree in Political Science from Brigham Young University and is a Certified Financial Crime Specialist (CFCS) and a Certified Anti-Money Laundering Specialist (CAMS). He also serves on the Identify Theft and Financial Fraud Board for the State of Colorado.

 

Naomi Karp, Senior Policy Analyst, Consumer Financial Protection Bureau

Naomi Karp, J.D., is Senior Policy Analyst at the Consumer Financial Protection Bureau’s Office for Older Americans. She focuses on elder financial exploitation and the impact of diminished decision-making capacity on financial security. At the Bureau, Karp has been the team lead for the CFPB’s Managing Someone Else’s Money guides, the Interagency Guidance on Privacy Laws and Reporting Financial Abuse of Older Adults, a guide for long-term care facilities on protecting residents, and the Advisory for Financial Institutions on Preventing and Responding to Elder Financial Exploitation.

From 2005 to 2011, Karp was a Senior Strategic Policy Advisor at AARP’s Public Policy Institute. In that capacity, Karp conducted research and advocacy on elder financial exploitation, advance planning for incapacity, health care decision-making, powers of attorney, guardianship, and legal rights. She also provided technical assistance for federal and state legislative advocacy and worked with AARP’s National Policy Council.


 

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