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#674901 - 01/29/07 09:02 PM what would you do (elder abuse?)
Trees Offline
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Joined: Apr 2005
Posts: 4,013
Since July customer has issued over $70,000. to individuals (the same 3-4) for "roof repairs". Checks are for amounts ranging from $500. to $1500., mostly $500. Thats a lot of roofing. The branch manager called the customer and he said it was OK, however, he is very elderly may be confused). We want to do the right thing. What would you do?

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#674909 - 01/29/07 09:07 PM Re: what would you do (elder abuse?) Trees
MadisonCali Offline
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Joined: Jun 2006
Posts: 2,515
I know that in the couple states I've worked in, I have been able to call the Department of Human Services and report a possible problem.
In that past they have sent someone out to interview the person and/or do an evaluation.

In the situation you are describing, I would probably make that phone call.
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#675409 - 01/30/07 03:45 PM Re: what would you do (elder abuse?) MadisonCali
Julie Duepner Offline
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Julie Duepner
Joined: Nov 2006
Posts: 30
Elderly victims of financial abuse are often unable or reluctant to tell anyone that they are being exploited. In some cases, a disability may prevent the victim from being aware of or reporting the abuse. In other instances, the victim may be dependent on the perpetrator for care, love, companionship or shelter. The victim may fear retaliation.

Because of their ongoing involvement in elders' financial affairs, banks are uniquely positioned to help prevent and detect elder financial abuse, and are therefore an essential partner in fighting this problem.

Reporting fraud involves legal and customer relationship considerations. An elderly customer may be offended if a bank insinuates that he or she is being victimized. The customer's family may likewise take offense if the bank questions a transaction, particularly if they feel the blame is being directed toward them. Therefore, it is important to strictly adhere to procedures for handling suspected elder financial abuse.
When making a report, you should be prepared with the following:

The alleged victim's name, address, telephone number, sex, age and general condition.

The alleged abuser's name, sex, age, relationship to the victim and address, if known.

The circumstances which led you to believe that the elder is being financially abused, being as specific as possible.

Whether the alleged victim is in immediate danger, the best time to contact the person, if he or she knows of the report and if there is any possible danger to the caseworker who will investigate.

Whether you believe the customer could make a report his or herself.

Your name, phone number and position.

The names of others that have information about the situation.

Any other relevant information.

Click the link below for specific information on where to report elder abuse in your state:

http://www.elderabusecenter.org/default.cfm?p=statehotlines.cfm


Julie
Julie Duepner
The Edcomm Group
Julie.duepner@edcomm.com
http://www.edcomm.com
http://www.bankersacademy.com
888 4 EDCOMM


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#675581 - 01/30/07 05:51 PM Re: what would you do (elder abuse?) Julie Duepner
KLouise Offline
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Joined: Dec 2005
Posts: 103
Missouri
I would check with your state's Department of Health and Senior Service (or it's equivalent). In Missouri we have a hotline set up to report suspected financial exploitation/abuse of both the elderly and the disabled.

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#684275 - 02/09/07 06:20 PM Re: what would you do (elder abuse?) KLouise
KSK Offline
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KSK
Joined: Jul 2001
Posts: 357
Kansas
One of the previous posters is correct, there are a number of states now require a bank employee that suspects a customer of being the victim of financial abuse to report it. Failure to do so can carry some pretty hefty charges. Furthermore, I believe that many of these same states provide protections to the individual reporting. In some states protections are similar to the protections for filing an SAR, you only need to have a suspicion, not proof that elder financial abuse may be occurring. The bank and employee are not responsible for the investigation. After the reporting of the suspicion, your appropriate state department will conduct an investigation or turn it over to law enforcement for investigation.

I'd start by checking to see what your state requires. I don't know what state you are in, but where I am from, I'd look to the State Department of Social and Rehabilition Services. Different states call it different things.

If you are still not sure where to go, check your state banking association, they will typically be very willing to help and can usually direct you to exactly where you need to be.

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#684400 - 02/09/07 07:37 PM Re: what would you do (elder abuse?) Trees
Dip Offline
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Dip
Joined: Mar 2005
Posts: 6,298
San Diego, CA
Originally Posted By: Trees
Since July customer has issued over $70,000. to individuals (the same 3-4) for "roof repairs". Checks are for amounts ranging from $500. to $1500., mostly $500. Thats a lot of roofing. The branch manager called the customer and he said it was OK, however, he is very elderly may be confused). We want to do the right thing. What would you do?


report it to aging and independant services and/or law enforcement AND file a SAR!!!

even if your state doesn't mandate reporting, it is always welcome and encouraged!
Last edited by dip; 02/09/07 07:38 PM.
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#684514 - 02/09/07 08:44 PM Re: what would you do (elder abuse?) Dip
Trees Offline
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Joined: Apr 2005
Posts: 4,013
file a SAR????? I would file a SAR if we had hard evidence that these were scammers. We would have to be very sure when we accuse people of defrauding someone. We are moving ahead with this story but, SAR, hmmmm. tell me why and what you would say.

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#684650 - 02/09/07 10:01 PM Re: what would you do (elder abuse?) Trees
FraudBuster Offline
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Joined: Nov 2005
Posts: 198
Indiana
I look at SARs this way: The "S" is for "Suspicious", and as such, it only points law enforcement in the right direction for further investigation. If our suspicions had to be confirmed before we file, it would be called a "CAR", and it would drive the police right to the door.

As our training program puts it, it's not the banker's job to "crack the case."

Remember, not so many years ago, child advocates had a tough job persuading people that they should report suspicions of child abuse instead of giving every parent the "benefit of the doubt." Let the authorities figure out if there's more to it, or not.
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#684702 - 02/09/07 10:30 PM Re: what would you do (elder abuse?) Trees
Dip Offline
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Dip
Joined: Mar 2005
Posts: 6,298
San Diego, CA
because it involves potential illegal activity involving more than $25,000 and you don't have a suspect narrowed down. well, if you didm the $ threshhold goes down to $5000. plus, everythign i have read on it says if it is also reportable on a SAR for one of those 4 mandatory reporting reasons (liek the two above, violations of the bsa, and any insider abuse), report it!

based on the $ amount and your suspicions, you do not have a choice but to file. and if you don't file, you better have it documented why you decided not to.
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#684718 - 02/09/07 10:40 PM Re: what would you do (elder abuse?) Dip
Dip Offline
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Dip
Joined: Mar 2005
Posts: 6,298
San Diego, CA
From Cal Bankers Association:

Federal law regarding suspicious activity reports
In addition to reporting suspected elder abuse to Adult Protective Services, financial institutions may be required to file a Suspicious Activity Report (SAR) with the federal government. Federal law (31 U.S.C. 5318(g)) requires financial institutions to file SARs in the instances noted below. Federal law also prohibits notifying any person involved in the transaction that the financial institution has made a report. The SAR must be made promptly after detecting any known or suspected violation of law or regulation involving the following:

Insider abuse involving any amount. An SAR would be required if a financial institution employee, director, officer, or agent committed or aided the commission of suspected financial elder financial abuse.

Violations aggregating $5,000 or more, where a suspect can be identified. An SAR would be required if one or more financial elder financial abuse transactions aggregating $5,000 or more are conducted through the financial institution AND a suspect can be identified.

Violations aggregating $25,000 or more, regardless of whether a suspect can be identified. An SAR would be required if one or more financial elder financial abuse transactions aggregating $25,000 or more are conducted through the financial institution, even if no suspect can be identified.

Transactions aggregating $5,000 or more that involve potential money laundering or violations of the Bank Secrecy Act. An SAR would be required if one or more transactions aggregating $5,000 are conducted in order to disguise funds or assets derived from financial elder financial abuse.
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Dabbling in banking, law, accounting...the life of a trustee.

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