My bank is seeking information on policies and procedures for handling elder abuse. We're thinking this function should be centralized within one department or area of the bank and would like suggestions on how other financial institutions are handling these situations. We are approximately $1.2 billion in size. Anyone willing to share???

Thanks

we have less than 25 branches - it is handled by our Security/Fraud Dept.

Our BSA department also handles our fraud cases. the local branch personnel are authorized to report to the appropriate authorities. They just notify the BSA department to file the SAR. Sometimes they aren't sure so the BSA department will investigate, file and contact the authorities.

In response to waldensouth, you say your BSA dept. handles fraud cases. What size is your bank? I have found that most banks have a separate dept. for fraud because this requires specialized techniques and skills for investigators. All departments currently have a hand in handling fraud at our bank ($1.2 billion) but we are pushing for a separate dept.

Why do you consider elder abuse to be included as fraud? I cringe at the thought of letting branch personnel go out on their own to report without a second set of eyes reviewing everything first.

Just trying to get a good consensus of how things are handled.

Similar to waldensouth.

Please note that elder abuse laws can be a state issue. There are different laws for each state. This may not be a one size fits all as each bank may have branches in different states.

Best of luck

we are a $2.4 or 5 billion bank. I can dream for a separate fraud department. Fortunately, our branch personnel will call us and ask what to do. some states will only take a statement from the person who notices the fraud - has been in contact with the customer. EVERY time they've called - it has been fraud - its just not that difficult to recognize. The staff member who sees it reports it to their branch manager who then decides what to do.