Carefull

Adults 60 and older lose an estimated $28.3 billion every year to elder financial exploitation. The problem is so widespread that states have increasingly been enacting laws specifically directing financial institutions to play a role in preventing financial exploitation. Financial institutions need to be aware of new requirements and take steps to put systems in place to protect vulnerable account holders. https://lnkd.in/gSc659A8 #elderfraud #fraudprevention

Consumers lost more money to investment scams in 2023 than to any other type of scam, according to the FTC. And the median loss per victim was $7,768, compared with a median loss of $500 for all fraud reports. Here’s what you need to know about the tactics scammers use, how to protect yourself and what to do if you become a victim of investment fraud. https://lnkd.in/eE5AKgRQ #scams #fraudprevention

Today is National Parents' Day. The team at Carefull wants to commend all of the parents who are caring for both children and aging parents. Being part of the Sandwich Generation is incredibly challenging, and there are few places to turn for help. That’s why Carefull is such a powerful tool for advisors, banks, and credit unions to build whole family relationships. By offering Carefull, advisors, banks and credit unions are stepping up to help financial caregivers by stopping one of the biggest points of stress: elder fraud. Learn more: https://getcarefull.com/ #nationalparentsday #sandwichgeneration #elderfraud

Landings Credit Union CEO Brian Lee is spot on with his suggestions in CUInsight.com on how credit unions can use data to recognize early signs of financial decline. At Carefull, we're proud to be partnering with credit unions to leverage data and detect changes in members' transactional behaviors that can be early warning signs of dementia. https://lnkd.in/evrhRpXN #agetech #dementiaawareness

The type of scam older adults lose the most money to are romance scams, according to the Federal Trade Commission. Those hardest hit were the 60-69 and 70-79 age groups, which reported $198 million in losses to romance scams in 2021. To avoid becoming a victim, it’s important to understand how romance scams work. Here’s how to spot these scams and what you can do to avoid them. https://lnkd.in/gnx99vhZ #scams #scamprevention #fraudprevention

Financial institutions reported more than $27 billion in suspicious activity related to elder financial exploitation from June 2022 to June 2023, according to FinCEN. To win the fight against fraud, financial institutions should consider shifting their focus from detection to prevention—and prevention begins with the account holder. Learn more. https://lnkd.in/gU8jMWFN #fraudprevention #elderfraud

Financial institutions are in a position to see the warning signs of dementia years before doctors typically detect cognitive decline, says one of the authors of a landmark study that found that financial mistakes can be an early predictor of dementia. Find out how the right strategy can help financial institutions protect older account holders and profit by mitigating losses related to dementia. #dementia #dementiaawareness #fintech #agetech https://lnkd.in/ez4DCCFV

We are excited to share that Carefull won the Best as-a-Service Solution award in the 2024 FinTech Futures #BankingTechAwardsUSA! This award is given annually to the software and services provider that has the most comprehensive functionality and fully realized suite of features while also delivering measurable improvements for users. Winning this award demonstrates our dedication to serving banking institutions large and small to protect their older customers from fraud, scams and money mistakes while forging relationships with their next generation of customers. The segment of customer we serve is both the most valuable and, more importantly, the most vulnerable -- making Carefull a crucial part of any bank's tech stack. If you are a bank and want to learn how we can protect your older customers, find us here: https://lnkd.in/eusVcJhg #BankingTechAwardsUSA #FinTech Futures

AT&T said Friday that records of calls and text messages of nearly all AT&T customers were exposed in a data breach. If you're an AT&T customer, here's what to do to protect yourself and your personal information. #databreach #fraudprevention https://lnkd.in/eiMk_6bN

With high temperatures gripping the U.S. this summer, you should be on the lookout for scammers claiming to be with utility companies. Utility scams tend to increase during extreme weather to take advantage of people looking for ways to cut energy costs or to scare them into believing that their service will be cut off. Here's what to know: https://lnkd.in/e5sEjvCm #scamalert #scams #fraudprevention