Trends in Elder Financial Exploitation (EFE)
On April 18, 2024, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis that discusses Bank Secrecy Act (BSA) data regarding Elder Financial Exploitation (EFE). Per FinCEN, EFE is “the illegal or improper use of an older adult’s funds, property, or assets.” This blog will briefly discuss the patterns …