Bank Launches Training to Stop Elder Financial Abuse
The ATB Financial bank has joined with Edmonton and Calgary police in Canada to try and put a stop to elder financial abuse. The financial institution has developed a training program for its employees to recognize when people are trying to take advantage of elders and steal their money. The financial institution is one of the first ones to work with law enforcement to develop this training program.
The training program will be incorporated as an industry standard program to help prevent elder financial abuse throughout Canada. Currently, the Elder Abuse Intervention Team in Edmonton estimates that roughly 10% of seniors will be the victim of elder abuse in one form or another. This training program will be the first step in lowering this percentage.
ATB Financial’s decision to work with law enforcement is a major step forward in preventing elder financial abuse in Edmonton. If other financial institutions incorporate this training program into their institutions, the number of elder financial abuse crimes could be drastically reduced. The report states ATB Financial will be specifically trained to spot unordinary actions regarding their customers’ financial records. Some of the warning signs include odd transactions, large sums of money missing from a person’s account, suspicious signatures on checks or other financial documents. By taking steps to prevent this type of activity against elders, the 10% of seniors that are currently affected in Edmonton could be drastically reduced. Elder financial abuse is very serious and anybody who is victimized should contact an attorney to find out how they can be compensated for their losses.
