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Compliance Training | Regulatory Compliance | Edcomm Group

Elder Financial Abuse

T1. What Is Elder Financial Abuse?: This topic will introduce the learner to the increasing problem of elder and dependent adult financial abuse by explaining who commits elder financial abuse and how, why, and where it occurs.

T2. Our Responsibility: This topic will familiarize the learner with the financial institutionÆs responsibilities and role in helping to detect and prevent elder financial abuse through offering safety nets, such as direct deposit and automatic bill payments.

T3. Federal and State Laws: This topic will familiarize the learner with various federal and state laws that have been enacted to address, detect, and prevent elder financial abuse, including the Older Americans Act, Elder Justice Act, and state- enacted elder abuse prevention laws.

T4. Reporting and Privacy: This topic will familiarize the learner with the relationship between financial institution privacy laws, such as the Right to Financial Privacy Act and the Gramm-Leach-Bliley Act, and how financial institutions report suspected elder financial abuse.

T5. Empowering the Elderly: This topic will familiarize the learner with what elders should know and what they can do to help detect and prevent financial abuse; this advice includes using direct deposit, establishing relationships with financial institution personnel, and putting all financial instructions in writing.

T6. Protecting Our Elderly Customers: This topic will familiarize the learner with measures that s/he should take to prevent elder financial abuse, such as communicating clearly with elderly customers and reporting any suspicions of abuse.

T7. Adult Protective Services: This topic will introduce the learner to the various aspects of Adult Protective Services (APS), such as who APS helps, what APS does, and where they will investigate reports of elder abuse.

T8. The Reporting Process: This topic will introduce the learner to the process by which reports of elder financial abuse are made, including supervisor and legal department responsibilities, steps to be taken for loss prevention, and in what ways the learner should be prepared when making a report.

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