This is a training video that banks use to teach their employees how to spot financial elder abuse: Financial elder abuse is generally defined as the improper use of a seniors funds‚ property or assets. Examples include cashing a check without permission, forging a signature, or convincing an elder to withdraw large sums of money and running off with it. Signs of financial exploitation may include sudden large withdrawals of cash, or transferring the title on a bank account to a new acquaintance. SB 1018 states that suspected financial abuse occurs when a bank employee observes behavior or transactions that would lead a person with similar training to form a reasonable belief that an elder is the victim of financial elder abuse. Types of Elderly Abuse About financial abuse: TYPES OF ABUSE Financial abuse of the elderly can happen in numerous ways. Family, friends, neighbors and caregivers are the perpetrators in 55% of cases. Here are some typical crimes: * Investment fraud * Abuse of Power of Attorney authorization; this is the one of the fastest growing crimes in America * Fake charities * Telemarketing and sweepstakes scams * Deceiving an elderly person to sign loan papers or withdrawal slips * Forging an elders signature * Use of counterfeit checks or debit cards to drain an elders bank account * Theft of wallets containing identification, and credit and bank cards * Theft of mail, including bank and credit card statements, preapproved credit offers, telephone calling ...
Orignal From: Financial Elder Abuse: Banks are Mandatory Reporters !
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