June is Elder Abuse Awareness Month: How Synovus is Taking Action with Carefull

At Synovus we are committed to safeguarding the well-being and financial security of our clients/members. June marks Elder Abuse Awareness Month, a time dedicated to raising awareness about the mistreatment of older adults, including financial exploitation. This is the perfect opportunity to spotlight our partnership with Carefull, a financial safety platform, that offers enhanced protection for our clients and their loved ones. 

Understanding Elder Abuse Awareness Month

Elder Abuse Awareness Month, observed every June, aims to shed light on the various forms of abuse that older adults may face, such as physical, emotional, and financial abuse, as well as neglect. A significant highlight of this month is World Elder Abuse Awareness Day on June 15, established by the United Nations in 2011 to promote a better understanding of elder abuse and neglect. 

Statistics reveal that approximately 1 in 10 older Americans experience some form of abuse each year, yet only 1 in 14 cases are reported. Financial exploitation is particularly concerning, as older adults are often targeted due to their accumulated wealth and increased risk of cognitive vulnerabilities.

The Importance of Financial Protection

Financial abuse can have devastating effects on older adults, leading to significant monetary losses and emotional distress. Recognizing the signs, such as sudden changes in financial situations, unexplained withdrawals, or new acquaintances overly interested in finances, is crucial.

Preventative measures, including regular monitoring of financial accounts and open communication with trusted individuals, can help protect against such exploitation.

We Partner with Carefull

In our ongoing effort to protect our clients, Synovus has partnered with Carefull, a financial safety service designed to guard against fraud, scams, and money mistakes. This collaboration provides our clients with tools to monitor their financial accounts proactively, detect unusual activities, and receive alerts about potential threats.

Carefull provides:

• 24/7 monitoring of bank, credit card, and investment accounts for signs of fraud or errors.
• Alerts for unusual transactions, concerning behavior, duplicate payments, or missed bills.
• Identity and credit monitoring services, plus up to $1 million in identity theft insurance.
• Document storage and password management
• Carefull ScamCheck, an AI-powered scam detection tool designed to instantly detect, analyze, and prevent scams before they cause financial harm.

By offering Carefull's services, we are adding another layer of security for our clients, particularly older adults who may be more susceptible to financial exploitation.

Our Commitment

We believe in fostering trusted relationships with our clients. By offering Carefull's services, we empower our clients to take proactive steps in protecting their financial well-being. This initiative reflects our dedication to delivering value and ensuring peace of mind for our clients and their families.

Learn more about Carefull and how it can help protect you and your loved ones.