BY ASHLEY PHILLIPS
GAZETTE STAFF WRITER
APRIL 28, 2010
Senior citizens Tuesday learned how to protect themselves from scams while area financial institutions got some lessons in avoiding becoming victims themselves.
The classroom for those lessons came in the form of the annual Safe Bank program conducted at the Ross County Service Center.
Among the topics covered by area law enforcement and prosecutors included how to react in the event of a robbery, types of scams normally targeting seniors and what a person should do if they suspect and elderly person has been the victim of financial exploitation.
Ross County Prosecutor Michael Ater said banks can play a large role in the prevention of elderly financial exploitation by simply being aware of noticeable changes within a regular customer.
Ater said banks are not mandated to report suspected elder financial exploitation to authorities. There are reasons, however, why banks should take the initiative and report their suspicions to authorities.
"Many people who lose their money in these situations don't have the ability to replace it," Ater said. "They have spent their entire life earning and saving, and they simply can't recover it."
Ater said banks also should consider the impact on a person going through such a situation.
"This is a blow to their self-esteem. This is a person who has succeeded their whole life, and later, they get taken advantage of," he said.
Things bank employees should watch for as possible tips to elderly scams among regular customers include:
A new associate at the bank with the customer.
Changes in regular banking habits, such as suddenly being there waiting for the bank's doors to open.
A sudden increased frequency in banking.
A sudden increase in the number of banking transactions, including cash withdrawals and transfers from savings to checking accounts.
The same payee showing up repeatedly on checks.
Abridged
SOURCE: ChilliCoTheGazette
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