A Statewide program introduced by the Illinois State TRIAD, its member organizations and the banking community which addresses financial exploitation against seniors.

Financial exploitation can generally be classified into two broad categories: those in which the senior knows the person and those involving a stranger. Whatever form it takes, exploitation often culminates during a visit to a banking facility. The challenge for banks’ front-line personnel is to identify those situations and provide the help necessary to prevent or stop the exploitation. The key to B-Safe’s success is the coordination between financial institutions, law enforcement and elder abuse professionals to help seniors who are at risk of losing their money or assets.

WHAT BANK EMPLOYEES CAN DO TO HELP
* Learn reason for large transactions or withdrawals.
* Check third-party authorization and documentations
* Consult with a supervisor or bank security.
* Ask senior to speak with bank security or a supervisor.
* Report suspicions to their local Elder Abuse & Neglect program.
* Get photographic evidence and be able to describe a suspect.
* Notify security or police if it is believed the senior is in any immediate danger.

OTHER WAYS BANKS CAN HELP

* Educate employees about abuse so they can recognize and report abuse situations.
* Take a proactive approach to developing new procedures and product lines to detect unusual banking activities and verify suspicious transactions.
* Develop and distribute educational materials alerting customers to scams and ways to recognize financial exploitation.
* Conduct senior seminars on elder exploitation.
* Generate media attention highlighting financial abuse and techniques for stopping it.

WAYS STRANGERS CAN EXPLOIT YOU

Someone wants you to……
* Buy a valueless or nonexistent product
* Invest in a fictitious company
* Claim a nonexistent prize, but first wants your credit card number to pay for shipping and handling charges or to verify your identity.
* Accept an unsolicited service for a reasonable fee; however, after starting the work, they will insist you pay more than originally agreed
* To split a large sum of money which has just been found; but first you must withdraw an amount equal to your share in order to show a sign of good faith

Someone convinces you to help….

* Catch a dishonest bank employee.
* An individual represents himself or herself as a bank examiner and convinces you to make a large cash withdrawal to help catch the dishonest employee
* By donating to a bogus charity
* Your child or friend who has been seriously injured or is in jail and needs money for medical treatment or bail

WAYS PEOPLE KNOWN TO YOU CAN EXPLOIT YOU

* Obtains access to checks written to you, your personal accounts or ATM card
* Charges you excessive rent or fees for basic services
* Coerces you into signing checks or personal asset documents through the use of force, manipulation, intimidation or threats
* Fraudulently uses a power of attorney or fiduciary authority to alter your will, obtain access to your finances or dispose of your income or assets
* Indicates they will stop providing for your care unless you give them more money or assets
* Steals money or assets from you

AVOIDING EXPLOITATION

* If a deal seems too good to be true-it probably is! Be suspicious and don’t rush.
* Don’t give your credit card, social security number or ATM information to phone solicitors
* Get estimates before doing renovations. Do not pay for work in advance. Check references and credentials.
* Do not sign a power of attorney or a document that allows another person to act on your behalf unless you have a complete understanding of the actions they can take using your name and assets.
* Use good financial practices. Use direct deposit. Do not sign blank checks. Never leave money lying around. Maintain a network of friends and professionals

For more information on the B-Safe program or to report or discuss financial exploitation call: 1-800-283-4070 – 24 hour response.