FNB Bank (FNB) is joining the national effort to protect seniors from becoming victims of fraud and financial abuse through the Safe Banking for Seniors campaign. FNB encourages both seniors and their financial caregivers to utilize these resources to learn about identifying and avoiding scams, preventing identity theft, and preventing elder abuse.
Each year older adults lose approximately $2.9 billion to fraud, but it is suspected that number is drastically underestimated because only 1 in 44 seniors report financial abuse. Safe Banking for Seniors is a new financial education program established by American Bankers Association Foundation to help combat this growing problem.
“Scammers are constantly finding new ways to target consumers, and older adults are often especially vulnerable to these scams,” said Brooke Wiles, FNB’s Chief Marketing Officer. “The Safe Banking for Seniors resources are designed to help our senior customers and their trusted caregivers stay informed, recognize warning signs, and feel empowered to protect themselves and their loved ones from financial fraud.”
FNB offers the following tips for seniors and their financial caregivers:
- Know the warning signs of scams. Scammers are always thinking of new ways to steal from seniors, but knowing the warning signs of scams will help stop fraud in its tracks. Paying fees or taxes for sweepstakes or lottery “winnings”, acting immediately on an offer or insisting on secrecy are characteristics of some types of fraud. When in doubt, talk to a trusted advisor, family member or friend.
- Protect your financial identity. Some scammers are more interested in stealing financial identities to open new credit cards or loans in seniors’ names. Shred receipts, bank statements and unused credit card offers before throwing them away. Never give personal information, including Social Security Number, account number or other financial information to anyone over the phone unless you initiated the call and the other party is trusted.
- Choose a responsible financial caregiver. Sadly, family members and friends can also take advantage of seniors and leave them in financial ruin. Plan ahead for the day that you may not be able to manage finances on your own.
- Talk to your banker about options to ease financial caregiving responsibilities. Banks offer services to help seniors and financial caregivers manage finances in accordance with seniors’ needs and desires.
FNB Bank, founded in 1875, is one of the oldest banks in the state of Kentucky with assets exceeding $740 million. FNB ranks among the highest in the nation in the area of safety and soundness and has earned three consecutive ‘Outstanding’ ratings for the Community Reinvestment Act (CRA) by the FDIC. FNB is a five-time ‘Best Places to Work in Kentucky’ Small Business Category Award Winner (2021–2024, 2026). The bank currently has ten locations located in Graves, McCracken, Calloway, Trigg, and Marshall County. FNB is Member FDIC and an Equal Housing Lender.
