AARP to Launch BankSafe Financial Exploitation Identification Training
California One of Twelve States Selected for Pilot Launch
California financial institutions have an opportunity to be on the frontlines of combating financial exploitation in our state. The American Association of Retired Persons (AARP) has partnered with more than 200 experts from banks and credit unions across the country to develop BankSafe, a first-of-its-kind, free training program that empowers frontline employees to identify red flags for financial exploitation and develop the skills to take the right actions to stop it. Pursuant to Welfare and Institutions Code §15360.1, officers and employees of financial institutions are mandated reporters of suspected financial abuse of an elder or dependent adult.
See how the BankSafe training is different in this short video.
California is one of twelve states selected to participate in the pilot launch of the training when it goes live in May. Several financial institutions in California are already involved as partners in the BankSafe program.
Financial exploitation is a growing problem in California and nationally. Nationwide, the average victim of financial exploitation loses $120,000 and financial institutions lose $1 billion per year in deposits.
AARP partnered with industry experts and one of the nation’s leading online education companies to develop BankSafe with the frontline user in mind. The BankSafe training:
Includes interactive modules, real-life scenarios and fun games to test skills
Provides short, bite-size education and training activities
Allows users to train and monitor their progress at their own pace
Interested persons may also contact Nicole Fernandez at (650) 573-2109 or firstname.lastname@example.org. Nicole is a Training and Outreach Specialist at San Mateo County Aging and Adult Services, AARP’s California partner in the pilot launch.