Navigating Elder Fraud: Challenges and Legal Trends in Payment Systems

In this episode of Payments Pros, Carlin McCrory is joined by Mary Zinsner, a partner in the Consumer Financial Services Practice Group, to explore the increasing litigation trends in the payments industry, with a focus on elder fraud and financial exploitation.Mary provides valuable insights into how these fraud cases frequently involve diverse payment systems, such as wire transfers and electronic fund transfers. The conversation sheds light on the challenges faced by financial institutions, including the delicate balance between compliance and customer satisfaction, as well as navigating claims related to negligence and breach of contract.Additionally, Mary and Carlin discuss the shifting legal landscape, highlighting state legislative efforts aimed at safeguarding the elderly. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.