RBC Wealth Management - U.S. launches Client Risk Prevention Division to detect and curb fraud and financial exploitation targeting vulnerable and aging clients
Royal Bank Of Canada (RY)
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Source: PR Newswire
The firm is also the first in the industry to sponsor SIFMA's Senior Investor Protection Toolkit, aligning with its efforts to advocate for vulnerable and aging clients MINNEAPOLIS, MN, Dec. 6, 2018 /PRNewswire/ - RBC Wealth Management – U.S. announced today the launch of its Client Risk Prevention Division, an effort designed to better arm employees with the resources and training to prevent, detect and report suspected financial abuse. In conjunction with the launch of the new division, the firm signed on as the first sponsor of SIFMA's Senior Investor Protection Toolkit initiative.Financial exploitation costs Americans almost $3 billion dollars each year, according to SIFMA, the national trade organization representing the securities industry. And this figure, based on the small number of cases reported in the media, doesn't reflect the magnitude of the issue, as only 1 in 44 cases is ever reported to the authorities."Anyone can become the target of financial fraud," said Michael
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