FinCEN issues analysis on elder financial exploitation: Threat pattern and trend information from June 2022 – 2023

Elder Financial Exploitation typically consists of two subcategories: elder scams and elder theft. FinCEN’s analysis reveals that most elder scam-related BSA filings referenced “account takeover” by a perpetrator unknown to the victim; that adult children were the most frequent elder theft-related perpetrators; and that illicit actors mostly relied on unsophisticated means to steal funds that minimise direct contact with financial institution employees.