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The BankSafe Initiative helps the financial industry better meet consumers’ financial needs and safeguard their assets. The initiative focuses on four key areas:
With the average victim losing $120,000, prevention of financial exploitation is critical to AARP’s mission to empower people to choose how they live as they age. BankSafe meets this need by conducting research into consumer insights, facilitating partnerships between the aging network and the financial industry, and developing the innovative BankSafe training platform to help financial professionals identify and stop suspected exploitation.
Explore AARP’s free financial exploitation prevention training platform for the financial industry
Learn what the 50+ want out of financial institutions and ways to protect consumers from exploitation
Get tip sheets, checklists and other resources for financial institutions, employees and consumers
Researchers from Virginia Tech Center for Gerontology studied the impact of training bank and credit union staff to spot and prevent financial exploitation. The research shows significant benefits to consumers and financial institutions when frontline employees take the AARP BankSafe training rather than other forms of training, including:
Full Report – AARP BankSafe™: The Impact of Training Financial Professionals to Prevent Financial Exploitation
Summary – AARP BankSafe™: The Impact of Training Financial Professionals to Prevent Financial Exploitation
As part of the BankSafe program, banks, credit unions and investment firms can apply to have AARP verify that at least 80% of their frontline staff successfully passed the BankSafe training and confirm that they have a financial-exploitation escalation reporting policy. Qualifying banks, credit unions, and investment firms in good standing can apply to receive a seal from AARP, good for one year, recognizing their commitment to fighting exploitation. Learn how to get verified.
AARP’s national director of BankSafe addresses trends in financial exploitation
Let us know if you would like BankSafe to participate as a speaker or panelist at your next event
Still have questions or need help? Review our FAQs or reach out to the BankSafe team
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