Suspicious Activity Reports (SARs) and Their Role in Investigations of Elder Financial Exploitation

Elder financial exploitation is a growing problem, and federal agencies are teaming up to enhance the response by law enforcement agencies and financial institutions. The Consumer Financial Protection Bureau and the Financial Crimes Enforcement Network hosted a webinar at the U.S. Department of the Treasury, to discuss a Joint Memorandum, issued on August 30, 2017, encouraging coordination among law enforcement agencies, financial institutions, and adult protective service agencies. The memo aims to raise awareness of the existence of Suspicious Activity Reports and the role they may play in aiding law enforcement when investigating elder financial exploitation cases.
Speakers in the webinar represent this collaborative effort. They include Rich Goldberg from the U.S. Department of Justice; Naomi Karp and Jenefer Duane from the Consumer Financial Protection Bureau at the Office for Older Americans; John M. Williams from the Financial Crimes Enforcement Network; and Peter Gallagher, Deputy Attorney General, from the State of New Jersey.