,h4 ,,res4 #cbh  ,in the ,house of      
,representatives1 ,u4 ,s41  ,april #cj1 
#bjai  ,,resolution  ,whereas in the    
context of the financial exploitation of
 the elderly1 ,federal statute defines  
exploitation as the fraudulent or       
otherwise illegal1 unauthorized1 or     
improper act or process of an           
individual1 including a caregiver or    
fiduciary1 that uses the resources of an
 elder for monetary or personal benefit1
 profit1 or gain1 or that results in    
depriving an elder of rightful access   
to1 or use of1 benefits1 resources1     
belongings1 or assets 7#db ,u4,s4,c4    
#acig;j7#h77 7,elder ,financial         
,exploitation72 ,whereas the ,national  
,adult ,protective ,services            
,association has stated1 ,elder abuse is
 vastly under-reported2 only one in #dd 
cases of financial abuse is ever        
reported2 ,whereas ,elder ,financial    
,exploitation is expected to increase in
 the upcoming years as #aj1jjj baby     
boomers are turning #fe each day2       

,whereas estimates by the ,investor     
,protection ,trust suggest that as many 
as one of five citizens over the age of 
#fe are victims of the theft of money1  
property1 identity or belongings2       
,whereas according to the ,national     
,center on ,aging1 ,up to #e million    
older ,americans are abused every year1 
and the annual loss by victims of       
financial abuse is estimated to be at   
least #cf4e billion42 ,whereas older    
adults are targeted for ,elder          
,financial ,exploitation through schemes
 such as fraud by trusted family1       
caregivers1 and fiduciaries1 and through
 scams by strangers often committed by  
international criminal networks2        
,whereas common schemes by fraudsters   
and scammers include1 lottery and       
sweepstakes scams1 telemarketing scams1 
home-repair scams1 computer-repair      
scams1 investment scams1 internet       
phishing scams1 abuse of fiduciary      
authority1 and identity theft2 ,whereas 
,financial ,literacy ,month aims to     

highlight for all ,americans the        
importance of establishing and          
maintaining healthy financial habits2   
,whereas education about healthy        
financial habits includes the protection
 of one's finances from financial       
exploitation1 especially for older      
adults who are vulnerable to targeted   
frauds and scams2 ,whereas to combat    
this serious financial concern and to   
protect the elder community1 this       
education must also extend to financial 
institutions1 law enforcement1 and      
regulatory agencies so they may work    
together to understand and detect these 
frauds and scams2 ,whereas these        
partnerships include not only ,federal  
agencies1 but also ,state1 local1 and   
,tribal authorities such as law         
enforcement and adult protective        
services agencies2 ,whereas the         
,financial ,crimes ,enforcement ,network
 7,fin,c,e,n7 is vital to the pursuit of
 these bad actors1 collecting suspicious
 activity report 7,,sar7 information and

 sharing1 as necessary1 its data1       
analysis1 and guidance with appropriate 
public- and private-sector partners     
focused on detecting and ending ,elder  
,financial ,exploitation2 ,whereas      
,fin,c,e,n1 working with ,federal       
consumer and law enforcement partners   
engages with financial institutions and 
,state and local authorities to educate 
on the signs of ,elder ,financial       
,exploitation2 ,whereas ,fin,c,e,n1 the 
,consumer ,financial ,protection        
,bureau1 and the ,department of ,justice
 issued in #bjag a joint memorandum to  
provide information on the use of       
,s,a,rs in the investigation of ,elder  
,financial ,exploitation1 building on a 
#bjaa ,advisory that identified red     
flags for detection2 and ,whereas       
despite the broad efforts by law        
enforcement1 regulatory agencies1       
financial institutions1 and private     
sector organizations to educate and     
share information1 ,elder ,financial    
,exploitation persists as a             

multi-billion dollar industry1 more can 
be done3 ,now1 therefore1 be it ,that   
the ,house of ,representatives--  7#a7  
supports the goals of ,financial        
,literacy ,month to raise public        
awareness about-- 7,a7 the importance of
 personal financial education in the    
,united ,states2 and  7,b7 the serious  
consequences that may result from a lack
 of understanding about personal        
finances2  7#b7 acknowledges that       
raising awareness of threats to personal
 finances1 especially for vulnerable1   
targeted populations like older adults  
and their relatives and caregivers1 is  
only one party of financial literacy2   
7#c7 understands that to combat ,elder  
,financial ,exploitation1 it is also    
necessary to encourage continued        
education and collaboration among law   
enforcement1 financial institutions1    
regulatory agencies1 and private sector 
organizations allowing detection1       
prevention1 reporting1 and investigation
 of these crimes2  7#d7 supports work   

being done by ,fin,c,e,n and its        
partners to educate the stakeholders    
which serve and protect ,america's elder
 community2  7#e7 urges continued       
public-private partnership and          
appropriate information sharing to      
prevent1 detect1 report1 and investigate
 ,elder ,financial ,exploitation2 and   
7#f7 urges action to assist with        
remediation and reporting1 as well as   
prevention and detection to have best   
possible data1 feedback1 and incident   
response4  ,clerk4