Chase Bank workshops helping metro Detroit seniors avoid fraud
Chase Bank is teaming up with the Detroit Police Department this summer to help educate seniors on how to avoid scams through local workshops.
Gail Taylor, vice president of community management at JPMorgan Chase, has been leading the workshops. She spoke with WDET about how scam calls and other ploys to defraud seniors are affecting metro Detroiters.
Listen: Financial wellness workshops aim to educate seniors about common scams
Recent data from the Federal Trade Commission shows a 25% increase in consumer losses as a result of fraud in 2024, compared to the prior year. Michigan residents lost over $200 million to fraud and scams during that timeframe, according to the FTC.
Adults ages 60 and older submitted the most fraud complaints of any age group last year, according to the FBI’s latest annual report, with an average loss of $83,000.
The most common scams targeting older adults are scam callers impersonating IRS, Medicare, Social Security and other government or financial institutions.
Taylor says these scam calls can deceive anyone — not just seniors — and shared a personal example of a time when her niece nearly fell victim to a scammer claiming she would go to prison if she failed to follow their instruction.
“These scam calls are here to create fear and panic and urgency so that you can not think rational,” she said. “So just imagine — if she is a young lady and that is how quick it was, imagine a senior.”
Over 40% of the scammers are adult children, Taylor said, noting that a lot of them might know the victims personally. She says she hopes to help local seniors look out for warning signs by spreading awareness about these scams and sharing tips for financial wellness at the workshops.
“Our goal is to build trust in our communities and then offer financial help, education, access to tools and resources, so that communities can be financially savvy,” she said.
Other banks such as American Bankers Association, Bank of America, Wells Fargo and more are also taking steps to help seniors and other customers avoid similar scams.
View a list of upcoming financial wellness workshops from Chase Bank below:
- Lunch and Learn: Ways to help protect your finances as you age (open to seniors) – Thursday, July 3 from 11 a.m. to 12:30 p.m. at Chase’s Corktown Community Branch, 1620 Michigan Ave., Ste 121, Detroit
- Homebuyer’s Workshop – Saturday, July 12 from 11 a.m. to 12:30 p.m. at Chase’s Harbortown Branch, 3300 E Jefferson Ave., Detroit
- Understanding and Building Credit – Tuesday, July 15 from 6 to 7 p.m. at Chase’s Corktown Community Branch, 1620 Michigan Ave., Ste 121, Detroit
- Lunch and Learn: Cyber Safety for Good (open to seniors) – Tuesday, Aug. 5 from 11 a.m. to 12:30 p.m. at Chase’s Corktown Community Branch, 1620 Michigan Ave., Ste 121, Detroit
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