Banking group offers tips for protecting finances

Nov 14, 2017

November is financial caregiver month, and financial experts are reminding caregivers the important role they play in keeping their loved ones safe, not only physically but financially.

Corey Carlisle is the Executive Director of the American Bankers Association Foundation.

“Basically a financial caregiver is is all those nonprofessional people who help a loved one manage their financial life. They may assist with day to day finances, planning future needs, and ultimately responsible for protecting their loved ones money.”

Carlisle said people over the age of 50 are targets for fraud and scams and it’s important to be cautious.

He said scams have been getting more elaborate. He said people have been notified of winning a lottery and asked for tax payments, and scammers have posed as friends or experts to gain access to bank accounts.

Click here for more tips on how to keep your loved one’s finances safe.