Illinois Governor Signs Bill to Protect Elderly
The Illinois Government News Network has posted a report on their website discussing a bill that Governor Pat Quinn has signed that will protect elderly individuals in Illinois from suffering elder financial abuse. The report states that this new law will call for financial institutions to set stronger methods in place to identify and report financial abuse of elderly individuals.
The report states that training will be set forth for employees of banks and other financial institutions that have direct contact with customers. Training will be provided to identify certain signs of elder financial abuse and how to go about reporting any incidents that have occurred. In the future, bank examinations will require this training to be instated. The report also goes on to provide several signs that elder financial abuse may be occurring.
This is yet another important step in preventing elder financial abuse, which is a crime that occurs very frequently. In most cases, elderly individuals are not always aware of any crimes taking place on their finances and that is how most get away with the crime. By creating laws of this nature and establishing other meaningful ways to detect and prevent elder abuse, it will have a drastic effect on the reduction of this crime in the future.
