Belco Community Credit Union leaders propose proactive fraud prevention measures for seniors

In a pivotal meeting on June 10, 2025, Pennsylvania's Aging & Older Adult Services and Commerce Committee spotlighted the urgent need for enhanced measures against financial fraud targeting seniors. Key stakeholders emphasized the critical role of legislation in imposing significant penalties on fraud perpetrators, alongside the necessity for law enforcement to receive adequate resources and training to tackle these crimes effectively.

During the session, a representative from JBT Financial Services shared a compelling testimony from a client who narrowly avoided a devastating scam, underscoring the real-life impact of fraud on vulnerable populations. The client praised two employees for their vigilance and support, highlighting the importance of proactive measures in safeguarding the financial security of older adults.

Lauren Greenaway, Assistant Manager for Fraud at Belco Community Credit Union, echoed these sentiments, stressing the need for a collaborative approach among financial institutions and law enforcement. She noted that seniors are particularly susceptible to scams, and proactive strategies are essential to prevent fraud. Greenaway outlined the credit union's commitment to educating staff and members about emerging fraud trends, including phishing and smishing attacks, which disproportionately affect older adults.

The discussions revealed a consensus on the necessity for common-sense legislation to bolster protections for Pennsylvania's seniors. As the committee moves forward, the focus will remain on fostering teamwork among agencies and enhancing public awareness to combat financial fraud effectively. The anticipated outcomes include not only stronger legal frameworks but also a more informed and vigilant community ready to protect its most vulnerable members.