Melissa Morrell, Author at NETBankAudit

Elder Fraud: Red Flags and Safeguards

Posted on September 14, 2023February 9, 2024 by Melissa Morrell

In January, 2022, the FBI launched an Elder Fraud Awareness Initiative. According to Special Agent in Charge, Susan Ferensic, “There has been a sharp rise in this type of criminal activity since 2015”. To learn more about Elder Fraud, take a look at the Elder Fraud Briefing created by Christopher Shields, Director of Audit Services at NETBankAudit.

Elder Fraud – Red Flags and Safeguards without Resources

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Tom Cosby, Internal Auditor
Crane Federal Credit Union, Odon, IN
$700 million, 20 locations, NCUA

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Austin Bank, Texas National Association, Jacksonville, TX
$2.1 billion , in total assets, 34 locations, OCC regulated

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Schlumberger Employees CU Sugar Land TX
$945M in assets, NCUA regulated

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Farmers & Merchants Bank, Granite Quarry, NC
$848M in assets, FDIC Regulated

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International Bank of Chicago, Chicago, IL
$845 million total assets. 6 branches. FDIC regulated