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Today, June 15, is National Elder Abuse Awareness Day.

The Wrestling Payments podcast was started to discuss "wrestling" with payment topics. Topics like technology implementation and AI, but perhaps we've become so numb to the problems of Elder Financial Abuse and Human Trafficking, that the issues have faded into the background. I ask the Industry, how can we do better?

In this episode of Wrestling Payments, Joe Casali talks with Andrea Higgens, a Criminal Elder Abuse Investigator from the San Mateo County District Attorney's Office, and Patty Presta, Director of Education at NEACH. Andrea shares her 25 years of law enforcement experience, focusing on elder financial abuse and the critical role of financial institutions in preventing these crimes. Patty adds her insights from decades of advocacy and education on elder abuse prevention.

Andrea discusses the importance of suspicious activity reports (SARs) and how they can help law enforcement track and prevent elder abuse. She emphasizes the need for financial institutions to educate their frontline staff on identifying and reporting suspicious activities. Patty highlights the significance of cross-reporting to Adult Protective Services (APS) to ensure timely interventions.

Throughout the conversation, Andrea, Patty, and Joe explore real-life examples of how collaborative efforts between financial institutions and law enforcement have successfully protected elders from financial exploitation. This episode sheds light on the complexities of elder financial abuse and the continuous efforts needed to safeguard vulnerable seniors.

GUESTS AT A GLANCE

• Andrea Higgens, Criminal Elder Abuse Investigator
• San Mateo County District Attorney's Office
• LinkedIn
• Noteworthy: Over 25 years in law enforcement, specializing in elder abuse cases.

• Patty Presta, Director of Education
• NEACH
• LinkedIn
• Noteworthy: Passionate advocate for elder abuse prevention since 1994

KEY INSIGHTS
The Role of Financial Institutions in Elder Abuse Prevention

Andrea Higgens emphasizes the crucial role financial institutions play in preventing elder financial abuse. She highlights the importance of suspicious activity reports (SARs) and cross-reporting to Adult Protective Services (APS). By identifying unusual transactions and collaborating with law enforcement, banks and credit unions can help protect vulnerable seniors. Andrea stresses the need for frontline staff to ask open-ended questions and be vigilant in detecting signs of abuse. She also suggests financial institutions host educational events for customers and their families to increase awareness and preventive measures. Empowering bank employees with knowledge and tools to identify potential abuse can make a significant difference in safeguarding elders from financial exploitation.

The Power of Cross-Reporting to APS

Andrea discusses the impact of cross-reporting suspicious activities to Adult Protective Services (APS). When financial institutions notice unusual transactions, they can trigger an investigation by APS, leading to timely interventions. She shares a success story where a bank's prompt cross-reporting helped uncover a significant financial abuse case. The abuser had liquidated large sums of money and taken ownership of the victim's home. Thanks to the bank's quick action and collaboration with APS and law enforcement, the victim's assets were recovered, and the abuser was prosecuted. This example i