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Safe Banking for Seniors

Did you know that older Americans reported $3.1 billion in losses due to fraud in 2022?

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 billions lost annually to fraud against older Americans.

Safe Banking for Seniors Seminars

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 set up 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.

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1024 Safe Banking for Seniors Presentation

Safe Banking for Seniors Presentation

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 handout and watching the Federal Trade Commission (FTC) video.

Family Imposter Scams

Family imposter scams occur when a scammer tricks a victim into thinking a family member is in serious trouble and needs immediate financial help. These scams often target seniors. Watch this video to learn about family imposter scams.

Government Imposter Scams

Never share personal or financial information and contact the agency directly. Watch this video for tips on how to spot a government imposter scam.

Sweetheart Scams

A sweetheart scam occurs when a victim is romanced though online dating sites or social media networks, then manipulated into sending funds to fraudsters or giving them account access.

Tech Support Scams

Scammers use pop-up messages, fake websites, or phone calls to trick you into thinking your computer has a serious problem. They obtain your money by having you pay for fake technical support, or steal your personal/financial information by gaining access to your computer.

Lottery Scams

Lottery scams often begin with fraudsters telling a victim they've won a lottery or raffle. The consumer may be issued a check worth more than the amount owed and instructed to pay taxes and fees before receiving a lump sum payment. These scams often target older Americans, watch to learn how to spot them.

Money Mule Scams

If someone sends you money and asks you to send some or all of it to someone else, you could be a money mule. Money mule scams often prey on older Americans. Watch this video to learn how to spot these scammers.