Tidewell Foundation Hosts Virtual Informative Session on Preventing Financial Abuse

The hour-long webinar seeks to educate elderly adults on how to recognize and avoid financial scams

The Tidewell Foundation is hosting an informative webinar on preventing financial abuse as part of its Care Redefined Series from 10–11 a.m. Tuesday, Sept. 28. Thelma Restrepo, senior vice president and global fraud prevention manager at Northern Trust, will review the most common fraud scams that target the elderly, including grandparent scams, romance scams, investment scams, utility scams, telemarketers, home repair scams and more. In addition, she will give tips on how to recognize the scams, how not to become a victim and what to do if you are victimized.

Up to 5 million older Americans experience financial abuse every year, and the annual loss by victims of financial abuse is estimated to be at least $36.5 billion. FinCEN (US Financial Intelligence Unit) tracked a 20% increase in the number of filings reporting elder financial abuse and a 30% increase in the amount of money involved in the reported activities in the last six years. Most often, people are falling for scams involved with the lottery, person-in-need or romance. While a stranger most often perpetrates scams, theft most frequently involves the elder’s family members or caregivers.

Restrepo is responsible for the banks’ Fraud Prevention activities, including managing a team of fraud analysis that review alerts generated by various fraud detection systems. She also performs proactive reviews and assessment of internal practices and procedures with a focus on fraud prevention, mitigation and risk elimination. This includes the assessment of fraud trends and losses, resulting in recommended changes to relevant bank policies, procedures and products.

To RSVP for the hour-long Zoom event, email events@tidewellfoundation.org or call 941-552-7546.

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About Tidewell Foundation, Inc. 

The Tidewell Foundation, Inc. is an independent 501 (c) (3) charitable foundation established to ensure perpetual philanthropic support to Tidewell Hospice and its family of healthcare companies. Charitable contributions to the Tidewell Foundation sustain and grow the critically important programs and services provided through the not-for-profit mission of Tidewell Hospice and its affiliates. Donor-funded programs offer compassion and comfort to those who need it most in our community by caring for all, regardless of their ability to pay. It starts with generosity and is paid forward with every patient connection, family served and life changed. Discover how each donation strengthens our community; learn more by visiting tidewellfoundation.org.