REV Hosts “Shielding Seniors” to Combat Financial Exploitation of Older Adults

To further enhance the impact of its financial wellness initiative, REV presented an educational forum called Shielding Seniors to educate the community about identifying and avoiding scams that target older adults.

On August 23, 2024, the Walterboro Wildlife Center temporarily transformed into a discussion hall as REV Financial Educator Cassandra Russell kicked off the event with the day’s main presentation. Addressing the 32 attendees, Russell focused on the rising concern of elder financial exploitation and provided insights into common scams that target seniors, as well as practical tips for recognizing warning signs.

According to the 2023 Elder Fraud Report by the FBI, financial exploitation and fraud rank among the most prevalent forms of elder abuse, yet they remain significantly underreported. It is estimated that older adults lose nearly $3 billion annually to financial scams.

Russell emphasized the need to safeguard older adults from fraud and financial exploitation, stating, “Protecting our seniors is a top priority. Events like these play a crucial role in raising awareness and educating communities about potential threats, preventive measures, and available resources for those affected. Elderly-targeting scams not only result in financial losses, but also erode the victims’ dignity and self-assurance.”

During the event, many Colleton County residents learned about the R.U.O.K program for the first time. This free service, provided by the Colleton County Fire-Rescue and Sheriff’s Office, makes daily phone calls to elderly and vulnerable citizens who lack a friend or family member to check on them regularly. The calls are automated and take place around 10 AM each day. In case of no response, the Sheriff’s Office follows up with additional calls, and if necessary, an in-person welfare check.

Guests enjoyed a complimentary lunch provided by Chucktown Mobile Seafood and had the opportunity to hear from various speakers, including:

  • Sgt. Billy Ballard, Criminal Investigation Division, Colleton County Sheriff’s Office
  • Leah Moody, Postal Inspector, United States Postal Service
  • Francine Norz, Assistant Solicitor, Fourteenth Judicial Circuit, South Carolina
  • Sandra M. Polk, County Director, Department of Social Services Colleton
  • Detective Laura Rutland, Internal Affairs, Colleton County Sheriff’s Office
  • Tracy Strickland, Senior Director of Services, Family Services DBA Origin SC

The event was open to the public and free of charge. For more information on REV’s financial wellness initiatives or to inquire about bringing this event to your community, please email Marketing@REVfcu.com.