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Friday, May 15, 2026/Categories: Bank News, Security, Scams, and Alerts
At Community First Bank, your financial security is one of our top priorities. One of the most concerning threats facing our customers today is Elder Financial Exploitation (E.F.E.) - a type of fraud that targets older adults and can lead to significant financial loss.
In 2025, the FBI reported $20.88 billion in fraud losses, with $7.75 billion (about 37%) impacting individuals age 60 and older - more than twice any other age group. Unfortunately, we’ve seen this trend affect members of our own Community First Bank family as well.
Elder financial exploitation is the illegal or improper use of an older adult’s money, property, or assets. It generally falls into two categories:
Elder Theft: When someone you trust - such as a family member, caregiver, or acquaintance - misuses your finances.
Elder Scams: When a stranger or imposter tricks you into sending money for something you never receive.
Elder theft often involves someone close to you taking advantage of trust. At Community First Bank, we’ve seen situations like:
A family member attempting to cash a check without the account holder’s knowledge or permission.
A trusted individual with financial authority making comments that suggest control over how money should be spent for their own benefit.
These situations can be difficult, especially when they involve loved ones. Many individuals feel hesitant to speak up - but you are not alone, and support is available.
Elder financial exploitation can develop gradually. Things may seem fine at first, but over time a trusted contact may exert more control over the account and begin to make decisions that are outside of an elderly individual’s wishes. Here are some red flags to be aware of:
Someone speaking on your behalf or discouraging you from making your own decisions
Unusual account activity or transactions that don’t benefit you
Not recognizing recent withdrawals or changes to your account
Our team is trained to recognize potential warning signs and step in when something doesn’t seem right. Whether you visit us in person, call, or bank behind the scenes, we’re here to help safeguard your finances.
If you or a loved one may be experiencing financial exploitation, we encourage you to reach out to us. With your permission, we can also help connect you to local resources, such as Adult Protective Services, for additional support.
Protecting your financial well-being is at the heart of what we do. If something doesn’t feel right, trust your instincts - and don’t hesitate to contact Community First Bank by following the link below.
Contact Community First Bank | Community First Bank
For more information and resources, please visit:
Elder Justice Initiative (EJI) | Financial Exploitation | United States Department of Justice