Elder financial abuse is an issue all banks need to take seriously. It can occur in many different ways. In order to properly combat the financial abuse of elders at your bank it is important to understand the ways financial abuse can occur.
This course will show you the many ways financial abuse of elders occurs and what you can do to prevent it.
This course includes an examination.
- Explain the different forms of elder financial abuse
- Understand how elder financial abuse commonly happens
- Implement policies and procedures at your bank to detect
- elder financial abuse
- React to elder financial abuse by contacting the proper Authorities
- Help prevent elder financial abuse at your bank
- What Can Happen?
- Fraud Committed by Stranger
- Prizes and sweepstakes
- Charity contributions
- Home and automobile repairs
- Loans and mortgages
- Health, funeral and life insurance
- Confidence games
- Fraud Committed by Relatives or Caregivers
- Joint bank accounts
- Deed or title transfer
- Power of attorney and durable power of attorney
- Living trusts and will
- How It Happens?
- Victim characteristics
- Victim facilitation
- Offender characteristics
- Detecting Elder Financial Abuse
- Customer concerns
- Account activity
- Third party involvement
- The grandson’s car
- The suspicious credit card arrangement
- The shared pin
- The stranger on the phone
- Reacting to elder financial abuse
- Suspicious Activity Reports
- Reporting to law enforcement
- Developing reporting protocol
- Preventing Elder Financial Abuse
- Developing customer relationships
- Providing education programs