Insights

Video Transcript

Hi, I'm Eric Williams, Security Director at Old National.

Throughout my 25 years in law enforcement and as the Sheriff of Vanderburgh County, I worked hard to keep the community safe.

That's why I'm thrilled to work on the Old National Money Safety for Seniors program.

This course outlines how to detect, protect against and report the financial exploitation of seniors in our community.

A True Link Report on Elder Financial Abuse found that seniors lose $36.5 billion per year from financial fraud. This problem is real and presents itself in many different forms and scams. Some of the most common scams are: the IRS scam, the Advanced Fee scam, online dating, sometimes known as the Lonely Hearts or Sweetheart scam, Mystery Shopping or the Working from Home scam, Service scams which come in all varieties, friendly fraud and identity theft.

With all these scams, it can be overwhelming and even scary. You need to be informed, not afraid.

Here are a few tips to keep you and your loved ones safe.

  • Be familiar with the common scams.
  • Always know who you're dealing with.
  • Never send money to someone you don't know and have not met personally.
  • Don't provide personal information to collect a prize or reward.
  • Never agree to deposit or cash a check from someone and wire funds back to them.
  • Wiring money is like sending cash; you can never get it back.
  • Trust your instincts and discuss with a trusted advisor who is not involved.

Sometimes, banking centers may ask questions about the source and use of funds to help protect you. Be open and honest with them. They can be a big help.

If this does happen to you, don't be embarrassed or afraid to ask for help. There is no shame in being a victim. The first thing you should do is notify your bank. Make your bank aware of the entire situation, especially if funds have been lost. Let them know if personal information was compromised or given to the fraudsters, such as account numbers, card numbers, passwords, PINs or Social Security numbers. If this information was shard, these accounts should be closed and passwords changed.

Contact local law enforcement.

Regardless if funds were lost by you, call your local law enforcement and let them know about your situation and what steps have been taken.

Old National is here to help. If you believe you have fallen victim to financial exploitation, follow the steps I've talked about. Stay up-to-date with the latest in fraud prevention by visiting oldnational.com/fraud. You may also call our Money Safety for Seniors hotline at 1-844-662-4777 for help.

More ways to secure your personal information

Our online security center provides additional actions you can take to protect yourself from financial fraud.




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