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14 Tips for Stopping Elder Financial Abuse in its Tracks

Every year, millions of seniors fall victim to financial fraud. Studies show elder financial abuse costs seniors approximately $2.9 billion each year, more than $753,000 of that in Alaska. In recognition of World Elder Abuse Awareness Day on June 15, First National Bank Alaska is urging elder customers and their trusted caregivers to safeguard all personal information and stay alert to the common signs of financial abuse.

"Fraudsters often prey on seniors experiencing cognitive decline, limited mobility and other disabilities that require them to rely more heavily on others for help," said First National Security Manager Don Krohn. "Appointing someone you know and trust to handle your financial matters aids tremendously in the fight against these crimes."

ANB Bank is offering the following tips:

If you believe you are a victim of financial abuse, be sure to:

For more information on how you can help detect and prevent elder financial abuse, visit the American Bankers Association or the National Center on Elder Abuse.

World Elder Abuse Awareness Day was launched on June 15, 2006 by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations.