In recognition of Older Americans Month in May, Baylake Bank is providing tips and advice to prevent financial exploitation of older adults.
“Seniors are increasingly becoming targets for financial abuse” said Dennis McIntosh, security officer for Baylake Bank. “People more than 50 years old control more than 70 percent of the nation’s wealth and fraudsters are using new tactics to take advantage of the growing number of older Americans.”
Bank employees are frequently trained to identify red flags commonly associated with financial abuse, from unusual recent withdrawals to a new person accompanying the older customer to the bank. Baylake Bank offers these tips: keep personal information private; shred receipts, bank statements and unused credit card offers; never let an “adviser” pressure you; check your credit report; and never rush into a financial decision.
The public is invited to the Baylake Bank Community Shred Day on June 6, 9:30 – 11:30 am. The event will be held in the Baylake Bank Employee Parking Lot in Sturgeon Bay.