Free Class on Preventing Elderly Financial Abuse in Kona Sept. 19

Bank of Hawaii is offering a free seminar on preventing elderly financial abuse in Kona on September 19 from 5:30 p.m. – 7 p.m. as part of its “Smart Money Seminars” series.

The event, held at the new Bank of Hawaii Kailua-Kona branch in the Kona Commons, is geared for senior citizens and will educate Big Island residents about the different types of scams that target seniors.

Attendees will learn:

• What is senior financial abuse?

• How to identify different types of scams

• How to protect yourself from fraud

The number of senior citizens on island is growing. Earlier this year the County Prosecutor’s Office reported that the Big Island’s population of elderly ages 60 and older increased 43.5% between 2000 and 2010.

And according to the latest census data, 13.5% of the 185,000 residents in Hawaii County are over the age of 65 with another 26% becoming senior citizens over the next two decades.

As large numbers of baby boomers hit retirement age, more and more of them are being targeted for fraud. Nation wide, seniors lose $2.9 billion a year to fraud and the majority of victims are women, according to a 2011 study conducted by the National Committee for the Prevention of Elder Abuse and the Center for Gerontology at Virginia Tech.

The extent of financial elder abuse on the Big Island is difficult to gauge because the County Prosecutor’s Office estimates that for every reported case of elder abuse—financial or otherwise—another five incidents goes unreported.

To register for the Bank of Hawaii seminar on fraud awareness for seniors or to request Bank of Hawaii bank offer the free seminar for your civic or senior-related group, email seminars@boh.com or call 808-694-8820.