Financial Professionals Issue Alarm Over Excessive Fraud Exploiting Seniors in Light of Advocated Legislative Changes: Article
Title: US Bank Pleas for Greater Fraud Regulations as Elderly Targeted by Scams
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Employees at Equitable Bank in Waterford, Wisconsin are raising concerns about a sharp increase in fraud targeting seniors. They're urging lawmakers to tighten regulations against such crimes.
"Fraud is just crazy now. Every day, these fraudsters are creating new ways to scam people," says Dawn Jurgensen, a branch manager of Equitable Bank. Testifying to the escalating wave of scams, the bank's six branches in the state report at least one fraud incident targeting seniors daily.
To address this issue, the bank is organizing community events to educate residents about fraud prevention and collaborating with the Wisconsin Bankers Association to champion stronger anti-fraud legislation. Proposed measures include the power to halt questionable transactions and reach out to "trusted contacts" when suspicious activities are detected.
"We were able to tell them how important it is that they push through the legislation that will help us help our elderly customers," remarks Erin Arneson, Equitable Bank's vice president of retail banking.
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Footnotes:
[1] - "Equitable Bank Seeks New Fraud Legislation to Protect Seniors - The Milwaukee Business Journal," (https://www.bizjournals.com/milwaukee/news/2025/06/03/equitable-bank-seeks-new-fraud-legislation.html)
[2] - "Equitable Bank Takes a Proactive Approach to Fight Elder Financial Abuse - WTMJ," (https://www.wtmj.com/news/local-news/equitable-bank-takes-a-proactive-approach-to-fight-elder-financial-abuse)
- Following the rise in elder fraud targeting seniors, Equitable Bank is advocating for stronger anti-fraud legislation, which includes the power to halt questionable transactions and contact trusted individuals when suspicious activities are detected, in the hopes of preventing further losses in the cryptocurrency, finance, and general-news sectors.
- With an increase in fraud incidents, Dawn Jurgensen, a branch manager at Equitable Bank, emphasizes the necessity of lawmakers tightening regulations against such crimes, particularly in the context of cryptocurrency and altcoins.
- As the consequences of fraud-related scams escalate, Equitable Bank will engage in community events to educate residents about fraud prevention measures and promote stricter anti-fraud legislation, which may also affect crime-and-justice matters within the crypto landscape.
