Safe Banking for Seniors

Did you know that older Americans lose $2.9 billion each year to fraud?

Luther Burbank Savings participates in the American Bankers Association Foundation’s Safe Banking for Seniors campaign in a nationwide effort to help older customers and their financial caregivers understand the risks of fraud and financial abuse and how to protect themselves and their loved ones.

Financial abuse against older Americans can take many forms, from illegal debits to third-party scams and even unauthorized withdrawals by an approved caregiver. And with the share of the U.S. population 60 years and over projected to reach 30 percent by 2025, the opportunities to take advantage of these at-risk bank customers becomes more prevalent by the minute.

Join us in our pledge to empower customers and communities with the facts, tools and best practices they need to bank more securely. Together, we can help eliminate the almost $2.9 billion lost annually to fraud against older Americans.

Consumer Alert: Gift Card Scams

Scammers are targeting seniors with demands to send funds in the form of gift cards in order to pay off a debt or ransom, or to avoid arrest or deportation. Learn how to spot a gift card scam by downloading the Consumer Alert: Gift Card Scams flyer and watching the Federal Trade Commission (FTC) video below.

Report Gift Cards Used in a Scam | Federal Trade Commission

Senior Fraud Workshops

As a community service, Luther Burbank Savings provides free personalized presentations to small groups of seniors in our local areas. Workshops review local and national scams and include tools and resource sheets for future reference. To setup a workshop for a senior in your life, contact Luther Burbank Savings at 855-903-2479 or send us a message by completing a Contact Us form.

American Bankers Association Foundation

Follow along as Andrew Parker presents Identifying and Avoiding Scams, an ABA Foundation Safe Banking for Seniors presentation.

Downloadable Resources for Seniors

For more information and other consumer resources, visit the American Bankers Association website.