Old National introduces Money Safety for Seniors program in conjunction with International Fraud Awareness Week
During International Fraud Awareness Week – Nov. 13th to Nov. 19th – Old National Bank is joining companies throughout the world in an effort to educate and protect citizens from financial exploitation schemes. A key tool in this fight is Old National’s new Money Safety for Seniors course. It was designed to provide seniors and those who care about them with the tools and knowledge they need to avoid becoming fraud victims.
Unfortunately, seniors are an increasingly common financial exploitation target. According to the 2015 True Link Report on Elder Financial Abuse, seniors lose $36.5 billion per year to fraudsters. This is precisely why Old National created Money Safety for Seniors, a free course that outlines how to detect, protect against and report the financial exploitation of seniors.
“For a number of years, Old National has been drawing upon the expertise of our associates to provide fraud awareness training for individuals of all ages throughout the communities we serve,” said Old National Chief Risk Officer Candice Rickard. “Our Money Safety for Seniors course was created specifically to address the persistent exploitation of seniors, who are tremendously at-risk for many common types of fraud.”
Examples of financial exploitation schemes aimed at seniors include:
- Common Scams – Grandparent, Sweetheart, Advanced Fee/Lottery, Work from Home, Service Scams, etc.
- Social Engineering – Leveraging human interaction online to learn more about the victim.
- Spoofed Emails – Fraudulent emails that appear to be from the victim’s actual account.
- Phishing - Sending an email falsely claiming to be a legitimate business in an attempt to dupe the victim into divulging personal, sensitive information.
- Pop-ups – These appear on the victim’s computer enticing them to click and download a “fix.” Instead, malware is added to the computer.
- Friendly Fraud – When someone in a position of trust utilizes that relationship to commit fraud. This type of fraud is sometimes referred to as trust abuse.
This week, we’ll be posting Fraud Prevention Tips on Facebook and Twitter
Each day from Nov. 14th through the 19th, we’ll post a fraud prevention tip on the Old National Facebook page and Twitter feed (@Old_National).
Fraud Prevention Tips are also available year-round at oldnational.com
Old National has an online Security Center at oldnational.com with fraud prevention and security tips for all audiences. Here are a few self-protection tips from the site:
Protect Your Device
- Keep your phone or tablet's operating system, software and apps up to date
- Set up a password and lock your device when not in use
- Do not install or run any app or program on your device unless it is from a trusted source
- If you use the ONB Mobile App and lose your mobile device, within Online Banking remove the phone number from update security options under my settings
Protect Your Access
- Use a personal firewall
- Set automatic updates
- Install anti-virus software that detects and blocks malware
- Use a trusted computer
- Avoid unsecured wireless networks
- Don’t use the same IDs or passwords for multiple systems
Protect Your Information
- Always log out when finished with Online & Mobile Banking
- Never store personal or financial information, including User IDs and Passwords, on your device or computer
- Don’t click on links or attachments to unsolicited email
- Monitor your personal accounts and financial statements regularly for unexplained activity
- Don't confirm or provide personal information in response to an email or text
- Check your credit reports - for free - every year
- Sign up for automated alerts within Online Banking as a way to monitor when certain account transactions occur
- Don’t write your PIN on your card or keep anywhere in your wallet or purse
For more information about increasing awareness and reducing the risk of fraud during International Fraud Awareness Week, visit www.FraudWeek.com.
About Old National
Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the largest financial services holding company headquartered in Indiana. With $14.7 billion in assets, it ranks among the top 100 banking companies in the U.S. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients. Today, Old National’s footprint includes Indiana, Kentucky, Michigan and Wisconsin. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investments and brokerage services. For more information and financial data, please visit Investor Relations at oldnational.com.