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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? 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'' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . 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Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . 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Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.
Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but he wired his “girlfriend” the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.
Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.
A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.
Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.
“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”
The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.
The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.
For those 50+, fraud hits hard
In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal Trade Commission data.
Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.
“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.
Nora Duncan, AARP Connecticut’s state director, says older people should not feel embarrassed if they are the victim of a scam.
“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.
AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.
Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.
To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.
“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,
he says.
In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.
“Sometimes it takes a little time,” she says.
Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the Bulletin for more than a decade.
More on fraud
This story is provided by AARP Connecticut. Visit the AARP Connecticut page for more news, events, and programs affecting retirement, health care, and more.
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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? 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'' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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Warning (2): include(/var/www/vhosts/vcc_staging/app/Resource/aarp2_master.bodyTargeting.html) [<a href='http://php.net/function.include'>function.include</a>]: failed to open stream: No such file or directory [APP/View/Layouts/aarp_2023.ctp, line 243]Code Context<?php if (!$nowrapper): // MLW - Spanish wrappers TBD
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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? 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'' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? 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'' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? 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Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? 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'' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? 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'' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? 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Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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$viewFile = '/var/www/vhosts/vcc_staging/app/View/Layouts/aarp_2023.ctp' $dataForView = array( 'content_for_layout' => '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? 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"/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ', 'scripts_for_layout' => '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged" name="description"/> <meta content="New, Banking, Law, Aims, Curb, Fraud" name="keywords"/> <link rel="canonical" href="https://states.aarp.org/connecticut/ct-bank-law-curb-fraud" /> <meta property="og:url" content="https://vccstaging.local.aarp.org/news/new-banking-law-aims-to-curb-fraud-ct-2024-03-31.html"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:title" content="New Banking Law Aims to Curb Fraud"/> <meta name="twitter:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta name="twitter:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> <meta property="og:type" content="article"/> <meta property="og:title" content="New Banking Law Aims to Curb Fraud"/> <meta property="og:description" content="In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to Federal"/> <meta property="og:image" content="https://aarp-states.brightspotcdn.com/dims4/default/2a4e55f/2147483647/strip/true/crop/972x625+69+0/resize/420x270!/quality/90/?url=http%3A%2F%2Faarp-brightspot.s3.amazonaws.com%2Fstates%2F05%2Fb5%2F11168bd4577ddb3897ba9c9ea598%2Fscam-jam.jpg"/> :root { --primaryColor: #ff1e3c; --primaryTextColor: #2a2a2a; --linkTextColor: #1f66bd; --linkHoverColor: #1f66bd; --secondaryTextColor: #000000; --secondaryColor2: #000000; --secondaryColor3: #000000; --secondaryColor4: #000000; --secondaryColor5: #000000; --black: #000000; --white: #ffffff; --grey: #f0efed; --gridGutters: 30px; --modulePadding: 60px; --pageWidth: 86.11%; --maxPageWidth: 1240px; --horizontalAlignment: center; --fontFamily: 'Roboto', sans-serif; --headerBackgroundColor:#000000; --headerTextColor:#FFFFFF; --headerHeight:50px; --footerbackgroundColor:#000000; --footerTextColor:#918883; }', 'title_for_layout' => '{local_city_c}, {local_state} Happenings - AARP' ) $content_for_layout = '<div class="row twoColumnLayout"> <div class="col-md-8 left-rail"><div class="module clearfix"><div class="ar-basic-box"> <div> <div class="module-spacer"> <header><h1 class="article-headline">New Banking Law Aims to Curb Fraud</h1></header> <div class="posted-on"> Posted on 03/31/24 by <b>Cristina Rouvalis</b> </div> </div> <div class="module-spacer"> <span class="blog-content"><p><div class="RichTextArticleBody"> <div class="RichTextArticleBody-body"><p>For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. They messaged back and forth so much that he started referring to her as his girlfriend.<br><br>Then she started asking him for money, for what she described as business opportunities. It began with small amounts before escalating to $20,000—supposedly to pay taxes on a $500,000 windfall. His bank noticed irregular activity on his account and warned it might be a scam, but <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2019/romance.html?CMP=KNC-DSO-FRAUD-Ongoing-RomanceScams-14884-GOOG-ONGOING-RomanceScams-Phrase-NonBrand&gad_source=1&gclid=Cj0KCQjwqpSwBhClARIsADlZ_TlMP3CVF7xQuO6yrhky3ACqRXkZv6p2UrOuIuBRKPQdWbWvfnFXlw4aAoEAEALw_wcB&gclsrc=aw.ds" target="_blank" rel="noopener noreferrer">he wired his “girlfriend” </a></span></span>the money anyway, says Dorian Long, manager of the Protective Services for the Elderly program, part of the Connecticut Department of Social Services.<br><br>Long is now investigating the matter as a case of financial exploitation. But the chances of success aren’t good; once a wire transfer occurs, it can be tough to recover the funds.<br><br>A new state law, which goes into effect July 1, is designed to prevent such exploitation by authorizing banks and other financial institutions to put a temporary hold on suspicious activities if the victim is 60 or older. The law says financial institutions may report suspected abuse to the state’s Department of Banking or Department of Social Services for investigation. If warranted, the police are also contacted.<br><br>Jorge Perez, Connecticut’s banking commissioner, says banks will be on alert for unusual patterns.<br><br>“You’ve been a customer for 20 years. You have a routine. Now all of a sudden, you’re coming to the bank every day, taking out $5,000, $7,000, $8,000 and ... you’re not doing a renovation to your house,” he says. “There’s no logical reason.”<br><br>The temporary freeze will slow things down, enable an investigation and hopefully prevent financial exploitation from happening in the first place, he says.<br><br>The initial hold can last up to seven days and can be extended up to 45 days if evidence of fraud is found. Perez says banks that report suspicious activity will get a “safe harbor”—meaning they won’t be liable if the funds are improperly released—as long as they train their staff, give proper notification and comply with other elements of the law.<br><br><b>For those 50+, fraud hits hard</b><br><br>In 2023, Americans reported losing more than $10 billion to fraud—ranging from romance and investment schemes to gift card scams—according to <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Annual-Data-Book-2023.pdf" target="_blank" rel="noopener noreferrer">Federal Trade Commission data</a></span></span>.<br></p><div class="Enhancement" > <div class="Enhancement-item"><figure class="Figure" data-alignment="center"> <img src="https://aarp-states.brightspotcdn.com/a7/63/79ba5851436d93d37190109b6725/screen-shot-2024-03-29-at-10-05-19-am.png" alt="Screen Shot 2024-03-29 at 10.05.19 AM.png" width="1082" height="852" style="height: auto; max-width: 550px;"/> <figcaption class="Figure-caption">Graphic: Nicolas Rapp</figcaption> </figure> </div> </div><p>Kathy Stokes, director of fraud prevention programs with AARP, says younger Americans report more fraud than older adults. But it can be more devastating when retirees are targeted.<br><br>“When you’re 83 and you lose $800,000 and that’s all you had, it’s life-altering,” she says.<br><br>Nora Duncan, <span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://states.aarp.org/connecticut/" target="_blank" rel="noopener noreferrer">AARP Connecticut’s</a></span></span> state director, says older people should not feel embarrassed if they are the victim of a scam.<br><br>“There are criminals spending every day of their lives working full time in a syndicate or organized crime to remove money from your wallet,” she says.<br><br>AARP supported the new bank law, which passed unanimously. “The whole point is to do this before the money’s taken away,” Duncan says.<br><br>Long says banking officials often try to dissuade customers from sending large amounts of money when there are red flags, but it can be difficult to make the case. She says many customers develop a strong emotional connection to the sophisticated con artists who perpetrate these kinds of scams.<br><br>To throw banks off their scent, criminals even coach victims on what to say to skeptical tellers about transactions, providing them with scripts, says David DelVecchia, senior vice president and bank security officer at Liberty Bank in Middletown.<br><br>“It’s amazing, the grooming and the techniques that these fraudsters use” to build trust,<br>he says.<br><br>In the case of the 73-year-old Hartford-area man, he still seems to have an emotional connection to the person who took his money, Long says.<br><br>“Sometimes it takes a little time,” she says.<br><br><i>Cristina Rouvalis, a writer based in Pennsylvania, covers business, health care and other issues. She has written for the </i>Bulletin <i>for more than a decade.</i></p><div class="Enhancement" > <div class="Enhancement-item"><span class="VideoEnhancement" data-video-disable-history data-embeddedvideo-container> <div class="VideoEnhancement-player"><bsp-brightcoveplayer data-video-player class="BrightcoveVideoPlayer" data-account="3772599298001" data-player="KM9xJAJa4" data-video-id="6002216007001" data-video-title="5 Warning Signs of a Romance Scam" > <video class="video-js" id="BrightcoveVideoPlayer-6002216007001" data-video-id="6002216007001" data-account="" data-player="KM9xJAJa4" data-embed="default" controls ></video> </bsp-brightcoveplayer> </div> <div class="VideoEnhancement-title">5 Warning Signs of a Romance Scam</div> </span> </div> </div><p><b>More on fraud</b><br></p><ul><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/top-scammer-list.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">6 Top Scams to Watch Out for in 2024</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/home-family/personal-technology/info-2023/build-better-passwords.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">5 Ways to Build Better Passwords</a></span></span></li><li><span class="Enhancement" ><span class="Enhancement-item"><a class="Link" href="https://www.aarp.org/money/scams-fraud/info-2023/protecting-yourself-from-criminals.html?intcmp=AE-FRDSC-MOR-R2-POS3" target="_blank" rel="noopener noreferrer">13 Ways to Protect Yourself from Fraud</a></span></span></li></ul></div> </div> </p></span> </div> </div> <p><i>This story is provided by AARP Connecticut. Visit the <a href="https://states.aarp.org/region/connecticut/" target="_blank">AARP Connecticut</a> page for more news, events, and programs affecting retirement, health care, and more.</i></p> </div> </div><div class="module clearfix"><script src="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.c85a242a55150cd195e494cd6e5b9c77.gz.js" async=""></script> <link rel="stylesheet" media="all" href="https://aarp-states.brightspotcdn.com/resource/00000168-dd17-d487-a96e-df5fe3ee0000/styleguide/All.min.bfe6eb5a8301841feef3af4e9bd1e26d.gz.css"> <!-- bypass --> <style> a:focus, a:hover { text-decoration: underline; } h1.article-headline { margin: 0 0 1rem; } </style> <!-- <style> .Enhancement-item .Figure { margin-bottom: 24px; } .RichTextArticleBody-body ul { margin-bottom: 24px; } .RichTextArticleBody-body p{ margin: 12px 0; } .RichTextModule-items { clear: both; display: table; width: 100%; margin-bottom: 12px; } .VideoEnhancement>* { color: var(--primaryTextColor); font-size: 13px; font-weight: 400; line-height: 1.4; font-style: italic; background: #f0efed } @media only screen and (min-width: 768px) { .VideoEnhancement>* { font-size:14px; font-weight: 400; line-height: 1.47 } } .VideoEnhancement-title { padding: 20px } @media only screen and (min-width: 768px) { .VideoEnhancement-title { padding:30px } } .VideoEnhancement-player>* { position: relative; width: 100%; height: 0; padding-bottom: 56.25% } .VideoEnhancement iframe { border: 0; position: absolute; top: 0; left: 0; width: 100%; height: 100% } [data-video-player] { display: block; padding-bottom: 56.25%; height: 0; margin: 0 auto; } [data-video-player][data-aspect-ratio="4x3"] { padding-bottom: 56.25%; } [data-video-player][data-aspect-ratio="16x9"] { padding-bottom: 56.25% } </style> --></div><div class="module clearfix"><div class="module-spacer tout-homefit-750"> <a data-formelementid="CSN-LOCAL-HC-NEWSSK-02272024" href="/alba-mi/home-and-community/?intcmp=CSN-LOCAL-HC-NEWSSK-02272024"><img class="img-responsive" alt="Explore the free AARP HomeFit Guide" title="Explore the free AARP HomeFit Guide" src="https://cdn-aarp.americantowns.com/img/touts/HomeFit_750x150.png"></a> </div></div></div> <div class="col-md-4 right-rail thin-rhs"><div class="module clearfix"><!--default--> <div class="ar-basic-box module-spacer"> <header> <div class="pull-right"> <a href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS"> <img style="width:30px;" src="https://cdn-aarp.americantowns.com/img/template/icons/aarp_event_icon.png" alt="Upcoming AARP Events" /> </a> </div> <h2 class="visible-lg">Upcoming AARP Events</h2> <h2 class="hidden-lg">Upcoming AARP Events</h2> </header> <div class="wrap"> <div class="ar-listing snippet"> <ul class="list"> <li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 8, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/smart-drivertek-virtual-workshop-discover-the-safety-benefits-of-new-car-technology-ryn8hl3hp8v.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-SMART-DRIVERTEK-VIRTUAL-WORKSHOP-DISCOVER-THE-SAFETY-BENEFITS-OF-NEW-CAR-TECHNOLOGY">Smart DriverTEK Virtual Workshop: Discover the Safety Benefits of New Car Technology</a></h2> <p class="time">Monday, Jul 8, 2024 at 7:00 p.m. ET</p> <p class="venue"></p> <p class="loc">Online Event</p> </li><li class="item" data-pageindex="1"> <h2 class="title"><a href="/aarp-event/fitness-strengthen-your-bones-qzn35fzyfjf.html" data-formelementid="LOCAL-BTN-CLK-EVENTS-FITNESS-CLASS-STRENGTHEN-YOUR-BONES">Fitness Class: Strengthen Your Bones</a></h2> <p class="time">Monday, Jul 15, 2024 at 6:00 p.m. ET</p> <p class="venue">Zoom</p> <p class="loc">Online Event</p> </li> </ul> <p><a class="link-red" href="/alba-mi/aarp-events/" data-formelementid="LOCAL-BTN-CLK-SEEALL-EVENTS">View All AARP Events<i class="ml-1 fas fa-chevron-right"></i></a></p> </div> </div> </div> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_53475" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_53475', size:'300x250'}); } </script> </div> </div> <pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-trace').style.display = (document.getElementById('cakeErr66883c872579a-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include(/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html): failed to open stream: No such file or directory [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c872579a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-code').style.display = (document.getElementById('cakeErr66883c872579a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c872579a-context').style.display = (document.getElementById('cakeErr66883c872579a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c872579a-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre><pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-trace').style.display = (document.getElementById('cakeErr66883c8726629-trace').style.display == 'none' ? '' : 'none');"><b>Warning</b> (2)</a>: include() [<a href='http://php.net/function.include'>function.include</a>]: Failed opening '/var/www/vhosts/vcc_staging/app//Resource/experience.master.resource.root.html' for inclusion (include_path='/var/www/vhosts/vcc_staging/lib:.:/usr/share/pear:/usr/share/php') [<b>APP/Lib/Modules.php(13) : eval()'d code</b>, line <b>1</b>]<div id="cakeErr66883c8726629-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-code').style.display = (document.getElementById('cakeErr66883c8726629-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr66883c8726629-context').style.display = (document.getElementById('cakeErr66883c8726629-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr66883c8726629-context" class="cake-context" style="display: none;">$module = array( '_id' => '66158db0e9dff2b1fd9cafcd', 'module_id' => '1098', 'name' => 'RHS - Events Experience', 'type' => 'php', 'data' => '<?php include(APP . "/Resource/experience.master.resource.root.html"); ?>', 'css' => '', 'script' => '', 'cache_time' => '', 'localize' => '0' ) $obj = false</pre><pre class="stack-trace">include - APP/Lib/Modules.php(13) : eval()'d code, line 1 eval - APP/Lib/Modules.php(13) : eval()'d code, line 1 Modules::render() - APP/Lib/Modules.php, line 13 Modules::load() - APP/Lib/Modules.php, line 29 Localize::getModule() - APP/Lib/Localize.php, line 294 Localize::replace() - APP/Lib/Localize.php, line 219 Modules::render() - APP/Lib/Modules.php, line 9 include - APP/View/Elements/display.ctp, line 13 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 AppController::renderPage() - APP/Controller/AppController.php, line 136 BlogsController::display() - APP/Controller/BlogsController.php, line 81 ReflectionMethod::invokeArgs() - [internal], line ?? Controller::invokeAction() - CORE/Cake/Controller/Controller.php, line 491 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 193 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167</pre></div></pre> <div class="card-tout card-dark membership-tout" style="margin:0 0 30px 0;"> <img class="img-responsive image" title="image of two AARP membership cards" alt="image of two AARP membership cards" src="https://cdn-aarp.americantowns.com/img/tout-two-cards.png"> <div class="title">Only $12 your first year with Automatic Renewal</div> <ul class="list"> <li>Immediate access to your <a href="https://www.aarp.org/benefits-discounts/">member benefits</a></li> <li>Discounts on travel and everyday savings</li> <li>Subscription to AARP The Magazine</li> <li>FREE second membership</li> </ul> <div class="action"> <a class="btn" href="https://appsec.aarp.org/mem/join?campaignid=UAJFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Join AARP</a> <div class="body">Already a member? <a href="https://appsec.aarp.org/mem/renew?campaignid= UARFT3&intcmp=LNK-CSN-AARPLOCAL-JRTOUT-RR-A-ALBA-MI">Renew</a> or <a href="https://www.aarp.org/benefits-discounts/my-membership/print-your-card/">Print Card</a></div> </div> </div> <style> .membership-tout {padding:16px 20px;} .membership-tout .list li { margin: 0; } </style> <div aria-hidden="true" class="aarpe-ad-wrapper"> <div class="aarpe-ad en clearfix" id="300x250_93505" data-adsize="300x250"> <script type="text/javascript"> if(typeof AARP.ads !== 'undefined'){ AARP.ads.slots({ id:'300x250_93505', size:'300x250'}); } </script> </div> </div> <div class="module-spacer text-center"> <div class="fb-page" alt="Image of AARP Michigan Facebook Page" title="Image of AARP Michigan Facebook Page" data-href="https://www.facebook.com/aarp.michigan" data-tabs="timeline" width="320" height="" data-small-header="false" data-adapt-container-width="true" data-hide-cover="false" data-show-facepile="true" lazy="true"> <blockquote cite="https://www.facebook.com/aarp.michigan" class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/aarp.michigan">Facebook</a></blockquote> </div> </div> <div class="ar-basic-box module-spacer"> <header> <h2>Contact AARP<br />Michigan</h2> </header> <div class="wrap"> <div class="ar-quick-list module-spacer"> <ul class="list-unstyled"> <li><i class="list-icon fa fa-envelope" alt="Email icon" title="Email icon" aria-hidden="true"></i><a href="mailto:MIAARP@aarp.org" target="_blank" rel="noopener">MIAARP@aarp.org</a></li> <li><i class="list-icon fa fa-globe" alt="Globe icon" title="Globe icon" aria-hidden="true"></i><a href="https://states.aarp.org/region/michigan/" target="_blank" rel="noopener">AARP Michigan</a></li> <li><i class="list-icon fa fa-map-marker" alt="Map Marker icon" title="Map Marker icon" aria-hidden="true"></i><a href="https://states.aarp.org/welcome-to-aarp-michigan/?intcmp=SNG-LNK-AARPLOCAL-CONTACT-20140101-ALBA-MI" target="_blank" rel="noopener">Contact Us</a></li> </ul> </div> <a href="https://www.facebook.com/aarp.michigan" target="_blank" rel="noopener" aria-label="Open Facebook"><img alt="Facebook icon" title="Facebook icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/facebook-dreamstale25.png"></a> <a href="https://twitter.com/AARPMichigan" target="_blank" rel="noopener" aria-label="Open Twitter"><img alt="Twitter icon" title="Twitter icon" src="https://cdn-aarp.americantowns.com/img/responsive/icons/48/x-logo-black.png"></a> </div> </div> </div></div> <div class="col-md-8 left-rail left-bot"></div> <div class="col-md-4 right-rail right-bot thin-rhs"></div> </div> <div class="row oneColumnLayout"> </div> <div class="row oneColumnLayout"> <div class="col-md-12"><!-- script to activate navbar --> <script type="text/javascript"> jQuery(".channelBarMain ul.left li a").click(function() { window.location = jQuery(this).attr('href'); }); </script> </div> </div> ' $scripts_for_layout = '<title>New Banking Law Aims to Curb Fraud</title> <meta name="page_title" content="New Banking Law Aims to Curb Fraud"/> <meta name="robots" content="noindex, nofollow"/> <meta content="For a 73-year-old man from the Hartford area, the scam started with a Facebook message from an unfamiliar woman who seemed friendly and caring. 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