MORE than 70 senior citizens attended a financial education session in Santa Cruz on Friday to help older adults navigate digital banking, avoid scams and make informed financial decisions as financial services become increasingly technology-driven.
The programme, titled “Banking for Seniors,” was hosted by the Bankers Association of Trinidad and Tobago (BATT) in collaboration with the Santa Cruz Members Zone of the Trinidad and Tobago Association of Responsible Persons (TTARP) at the Mary Immaculate Queen of the Universe Roman Catholic Church.
The session focused on fraud prevention, digital banking safety, financial abuse and estate planning, topics organisers said have become increasingly important as seniors face growing exposure to online financial services and increasingly sophisticated scams.
Chairman of BATT’s Security Committee Sherwin Forte warned participants that fraudsters are using increasingly advanced tactics, including artificial intelligence, to make scams appear legitimate.
“Modern-day scams are designed to look legitimate. They sound convincing, appear professional and, with the use of artificial intelligence, are becoming even more difficult to detect. The best defence is to pause, verify and never allow anyone to pressure you into sharing personal or banking information,” Forte said.
Participants were advised on how criminals use fraudulent links, requests for one-time passcodes (OTPs) and other social-engineering techniques to gain access to bank accounts. They were encouraged to verify unexpected requests and contact their financial institutions whenever they encounter suspicious activity.
The programme also addressed financial abuse, an issue speakers said often goes undetected among older adults.
Kelmond Constantine, the bank card custodian at Republic Bank’s Ellerslie Plaza branch, said financial abuse can include the unauthorised use of a person’s funds, coercion to sign financial documents or the exploitation of vulnerable individuals during periods of illness or dependency.
He noted that perpetrators are often trusted individuals, including relatives, caregivers or close acquaintances.
Providing guidance on digital banking, customer service officer at Republic Bank’s San Juan branch Savion Burke outlined practical steps seniors can take to safeguard their accounts, including protecting personal identification numbers, passwords and one-time passcodes.
The session also highlighted the importance of estate planning.
Legal counsel at RBC Royal Bank, Nicole-Anna De Silva discussed the role of wills and powers of attorney in protecting assets and providing clarity for families during periods of illness or incapacity.
Executive director of BATT Keston Howell said financial inclusion extends beyond access to banking services, and includes ensuring that citizens have the knowledge and confidence to use them safely.
“Financial inclusion means ensuring that every citizen, regardless of age, has the confidence, knowledge and support to manage their finances safely. Our senior citizens have spent decades contributing to our country’s development,” Howell said.
“They deserve to feel empowered, not intimidated by today’s banking environment. Through initiatives such as Banking for Seniors, BATT remains committed to equipping them with practical knowledge that helps protect both their finances and their independence,” he said.
Founded in 1997, BATT represents the country’s commercial banking sector and includes member institutions such as Citibank (Trinidad & Tobago) Ltd, First Citizens Bank Ltd, Republic Bank Ltd, Scotiabank Trinidad and Tobago Ltd, RBC Royal Bank (Trinidad & Tobago) Ltd, JMMB Bank (Trinidad & Tobago) Ltd, CIBC Caribbean and ANSA Bank.
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