14 Tips for Stopping Elder Financial Abuse in its Tracks Every year, millions of seniors fall victim to financial fraud. Studies show elder financial abuse costs seniors anywhere from $3 billion to $37 billion a year. In recognition of World Elder Abuse Awareness Day on June 15, First Bank is urging senior clients as well as their trusted caregivers to safeguard all personal information and stay alert to the common signs of financial abuse. “The U.S. Population is rapidly aging and the older population not only has varying financial needs and circumstances, but also hold a greater share of household net worth.” Says Bob Ahern, Chief Compliance Officer. “As such, they are also more vulnerable to financial abuse and should seek individuals and professionals who they trust to ensure their best interest and financial and personal well-being.” First Bank is offering the following tips: Plan ahead to protect your assets and to ensure your wishes are followed. Talk to some ...