Washington Trust helps seniors protect themselves from financial scams

JOHNSTON, R.I. – Today Washington Trust hosted an educational event at the Johnston Senior Center focused on recognizing and preventing elder fraud, offering valuable insights to help older adults safeguard themselves from financial scams and identity theft.

Led by Washington Trust’s fraud prevention specialists, the presentation covered the growing threat of elder financial exploitation, which affects more than 10% of older adults annually and results in billions of dollars in losses nationwide. Attendees learned how to spot red flags, recognize common scam tactics, and take proactive steps to safeguard their personal and financial information.

“Fraudsters are becoming increasingly sophisticated, using AI deepfakes, encrypted messaging apps, and emotional manipulation to target vulnerable individuals,” said Washington Trust Chairman and Chief Executive Officer Edward O. “Ned” Handy III. “Our goal is to equip seniors with the knowledge and confidence to recognize scams and take action before harm is done.”  

Topics included:

• Identifying financial red flags such as sudden account changes or unexplained debt
• Recognizing scam tactics like overpayment schemes, romance scams, and fake IRS calls
• Protecting against identity theft through strong passwords, multi-factor authentication, and social media awareness
• Knowing what to do if targeted, including how to report fraud and secure accounts

The presentation also emphasized the importance of speaking openly with trusted advisors and family members, and encouraged attendees to contact Washington Trust or local law enforcement if they suspect fraud.

Washington Trust remains committed to supporting the financial well-being of older adults through education, outreach, and its Age with Wisdom™ initiative, which offers personalized planning tools and resources for seniors and caregivers.

For more information or to schedule a fraud prevention training, visit https://www.washtrust.com/age or call 800-475-2265.

ABOUT WASHINGTON TRUST^®

Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. In 2025, Washington Trust reached a milestone of 225 years in operation, marking its commitment to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.