Next: How community banks are innovating in their own ways to wire a lot of money or other unsettling interactions with caregivers. Over the past year, Mechanics Bank has dealt with several cases where older customers have attempted to wire most, if not all, of their savings to a " friend " they met online. In these instances, the bank may refuse to wire the funds and contact the customer to discuss the situation. " We then add messages to the customer's profi le in order to prompt front-line staff to pay even closer attention to activity that could be related to the exploitation of our customer, " Schoonover says. Some banks are taking a more proactive approach to detecting cases of potential EFE. For example, USNY Bank uses analytical software to search for anomalies. That analysis helped to identify one case involving multiple seniors linked to one particular caregiver. All banks have diff erent tools in the toolkit to address the growing problem of EFE. Phillips adds: " The best advice is for banks to be as diligent as possible and make sure staff are well trained. " Beth Mattson-Teig is a writer in Minnesota. i Refresh your cybersecurity knowledge Find further guidance on combating elder financial exploitation from the CFPB, FinCEN and the U.S. Department of the Treasury at bit.ly/efe_1 and bit.ly/efe_2 Go straight to the premier non-brokered source. * Only non-brokered CD source vetted and chosen by ICBA * 30+ years, 3000+ institutions 3 fraud resources for community banks For more information about combating elder financial exploitation, visit: Q ICBA's online elder financial abuse training course: icba.org/education Q AARP BankSafe Training Platform: banksafetraining. aarp.org/interest Q CRA Partners CRA compliance program: shcpfoundation.org/ cra-partners * Outstanding support and on-staff regulatory guidance Looking for more? Look no further. Schedule your tour at bankliquiditysource.com 800.285.8626http://www.bit.ly/efe_1 http://www.bit.ly/efe_2 http://www.bankliquiditysource.com http://www.icba.org/education http://www.aarp.org/interest http://www.shcpfoundation.org/