First Southern State Bank, ICBA offer tips to help prevent elder finance abuse

“As financial stewards of the community and trusted lenders, First Southern State Bank takes a number of preventative steps to identify, prevent and report suspicious activity for the protection of our customers,” said Jack Lovelady, president and CEO of First Southern State Bank. “We want to ensure all Jackson County residents are equipped to recognize the warning signs and take steps to protect themselves or their loved ones. By working together, we can stop bad actors from robbing millions of Americans of their finances and good credit.”

First Southern State Bank and ICBA offer the following suggestions to help curb the rising tide of elder financial abuse:

• Secure private information (Social Security card, passport, bank account numbers, financial statements, medical records and other legal documents), in a bank safety deposit box.

• Check your bank accounts and bill statements carefully. If you notice unauthorized charges or unusual activity, alert your bank immediately.

• Do not disclose personal information, such as bank account numbers or PINs, to anyone in a phone call, letter, email, fax or text message claiming to be from an established organization, especially if they ask you to wire funds or send private information.

• Ask your local community bank about available resources to help protect you or your loved ones from scams and exploitation.

• Plan ahead by giving a trusted person the legal authority to make financial decisions for you if you are unable. Make sure your bank has a record to who can manage your money on your behalf.

• Contact your local adult protective services agency and law enforcement if you have information about a fraud or suspect you may have encountered financial abuse.

“Community bankers are often relied upon as the front line of defense in the protection of their customers and as providers of prevention education and information for elderly customers and their adult children,” said ICBA President and CEO Rebeca Romero Rainey. “Call on your local community banker to help identify prevalent scams and safeguard your hard earned financial future.”

For more tips on how to avoid, recognize and report identity theft and fraud, visit www.fssbank.com/accounts/services/identity -theft. To learn more about the elder financial abuse and prevention strategies, visit icba.org/eldercare.