AARP BankSafe: Protection Against Financial Exploitation

BankSafe

The AARP BankSafe Initiative

The helps the financial industry better meet consumers’ financial needs and safeguard their assets. The initiative focuses on four key areas: Preventing financial exploitation Empowering family caregivers Helping those with dementia Making banking tools and environments easier to access With the average victim losing $120,000, prevention of financial exploitation is critical to AARP’s mission to empower people to choose how they live as they age. BankSafe meets this need by conducting research into consumer insights, facilitating partnerships between the aging network and the financial industry, and developing the innovative BankSafe training platform to help financial professionals identify and stop suspected exploitation.

AARP BankSafe Financial Exploitation Training

Awards

AARP’s BankSafe Initiative has been recognized both nationally and internationally as a leading resource for the financial industry in the fight against financial exploitation. Our resources are proven to help frontline staff prevent and report exploitation and people are talking about it.

A Free Award-Winning Training Endorsed by the Financial Industry

"The BankSafe training is a game changer. It's taking training new employees to a whole new level. It's flexible and provides the accountability that a bank wants and the modern training that employees have come to expect." — Linda Navarro, President and CEO, Oregon Bankers Association "As the CEO of a small credit union, it's really important that we're here to protect our members, and that's what's great about BankSafe. Our members come to us because they trust us, and now we have the training to show them we know what we're talking about." — Linda White, CEO, Upward Credit Union

New Course and Research Addressing Gift Card Fraud br

AARP has launched a brand new course available to all U.S. retailers to prevent gift card and money-wiring fraud. about this growing concern and email us at to sign up for the free course today!

Learn what the 50+ want out of financial institutions and ways to protect consumers from exploitation

Get tip sheets, checklists and other resources for financial institutions, employees and consumers

The Impact of AARP BankSafe

Researchers from Virginia Tech Center for Gerontology studied the impact of training bank and credit union staff to spot and prevent financial exploitation. The research shows significant benefits to consumers and financial institutions when frontline employees take the AARP BankSafe training rather than other forms of training, including:
A 133% increase in knowledge regarding exploitation Four times greater employee confidence in recognizing, preventing, and reporting cases of financial exploitation BankSafe trained employees saved 16x more money from exploitation

Apply for the AARP BankSafe Trained Seal

As part of the BankSafe program, banks, credit unions and investment firms can apply to have AARP verify that at least 80% of their frontline staff successfully passed the BankSafe training and confirm that they have a financial-exploitation escalation reporting policy. Qualifying banks, credit unions, and investment firms in good standing can apply to receive a seal from AARP, good for one year, recognizing their commitment to fighting exploitation.

Connect With Us

Let us know if you would like BankSafe to participate as a speaker or panelist at your next event

Still have questions or need help? Review our FAQs or reach out the the BankSafe team

More from AARP' s BankSafe Team

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