Elder Financial Exploitation: Why are Older Adults Targeted?
Elder Financial Exploitation (EFE) is a horrible crime where an older adult’s vulnerabilities, trust or cognitive decline are preyed upon in an attempt to manipulate or deceive them into giving up their financial resources, assets or control over their financial affairs. Whether it is perpetrated by an unknown third party or a “trusted” family member, financial institutions are in a unique position to detect and prevent it. In fact, FinCEN urges financial institutions to be on the lookout for such activity and has put out several Advisories on EFE. So why are older adults often the target of scams, fraud and undue influence?
Kevin explains more in the video.
Published 2026/04/13
Kevin Edwards
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).