Elder Financial Exploitation (EFE) – Updated Fincen Guidance

Date Recorded: May 18, 2026
Presenter: Mark Dever, AAP, CAMS, Director, Forvis Mazars, LLP

In 2025, depository financial institutions filed 138,000 suspicious activity reports (SAR) indicating “Elder Financial Exploitation” (EFE), 2.16% of SARs filed by that group. On December 01,2025, the Federal Trade Commission (FTC) released its annual report to Congress on protecting older adults. According to the FTC, total fraud losses reported by older adults (ages 60 and over) increased about fourfold from 2020 to 2024, skyrocketing from about $600 million in 2020 to $2.4 billion in 2024.

In 2024, older adults reported losing far more money to investment scams than to any other fraud type, often reporting that scammers targeted them on social media. This two-hour webinar will review the annual report, other statistics, and discuss tools to assist our elderly clients avoid becoming victims of EFE.

Here’s What You Will Learn:

• • Discuss the EFE trends and typologies;
  • Review the behavioral and financial “red flags” of EFE;
  • Highlight the SAR and other relevant reporting requirements and options;
  • Discuss the CFPB’s focus and tools on EFE; and
  • Allow time for questions from participants.

For the first 12 years of SARs reporting EFE, approximately 1% of SARs filed each year by financial institutions had referenced EFE, but in the last two years, that percentage has increased by over 100%. This two-hour webinar from ProBank Education Services will not only provide the compliance and retail staffs with a current update on the issue of EFE, but it will also discuss other ways in which we can assist our elderly clients.