South Orange Seniors Learn To Avoid Scams, Frauds At Workshop

SOUTH ORANGE, NJ — The following news release comes courtesy of a Patch South Orange community member. Find out how to post announcements or events to your local Patch site.

Communities First Initiative (CFI) joined at The Jewish Community Housing Corporation of Metropolitan New Jersey (JCHC) and Valley National Bank for a 2-hour presentation on “How to Avoid Scams, Frauds and Identity Theft” to an overflow crowd of senior citizens at the 80-unit Village Apartments in South Orange Village.

Project Thrive, a program of CFI serves and empowers low- and moderate-income seniors and families by providing education, and direct services which promote healthy lifestyles, financial stability and community belonging. This is one of many multi-lingual financial education presentations that CFI will be conducting throughout the state in the next several months as a result of the huge increase in the numbers of senior citizens who have experienced scams, frauds and identity theft.

Harold Colton-Max, Chief Executive Officer of the JCHC welcomed the overflow crowd of senior citizens,

"It’s clear that there is a growing risk to our seniors from unscrupulous bad actors seeking to take away the money our residents have set aside for their golden years. Through initiatives like this partnership with CFI and Valley National Bank, the JCHC is committed to providing those living in our Metrowest community with the tools they need to recognize and protect themselves from scams, frauds and identity theft.”

According to the Consumer Financial Protection Bureau, in 2023, complaints about financial abuse of older people increased 14% while reported financial losses increased 11% over 2022, according to the FBI's Internet Crime Complaint Center (IC3). Their 2023 Elder Fraud Report says victims lost an average of $33,915 to these crimes, totaling more than $3.4 billion. The lack of proficiency in technology among older people makes them easier targets for Internet, email and phone scams. Phone calls from scammers claiming to be the IRS, Social Security, Medicare, financial institutions or friends and relatives make older adults especially vulnerable to such traps.

Presenters included Geraldine Flach, Vice President of Corporate Social Responsibility Valley National Bank, Sergio Guzman and Tatiana Huggins, Sr. Personal Bankers from the South Orange VNB branch. “Identity theft and fraud affect millions of vulnerable seniors each year. With the prevalence of AI and other emerging technologies, these scams continue to become even more dangerous and complicated,” commented Bernadette Mueller, Executive Vice President and Chief CSR-CRA Officer of Valley Bank. “That’s why we’re proud to partner with CFI and JCHCORP to provide the crucial guidance, tools and resources seniors need to protect their personal information and safeguard their privacy.”

“Many seniors do not report scams and frauds due to embarrassment, fear of losing their independence, or a lack of awareness of where to report such incidents, leading to an underestimation of the problem. By going into communities and meeting in person with the seniors, Communities First Initiative is able to provide a safe space for seniors to tell their stories, ask questions and learn how to prevent becoming victims of financial frauds.” said Phyllis Salowe-Kaye, Executive Director, Communities First Initiative.

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