District Attorney’s Office teams up with local banks to prevent financial abuse

 

 

The county district attorney’s office is getting a helping hand from banks in an effort to prevent financial fraud against dependent adults and the elderly.

Among other requirements, Senate Bill 1018, which became effective in January, requires financial institutions to file a report within two days and act as mandated reporters if they suspect that elderly or dependent adults are the victims of financial abuse. 

 

“Ideally, the intent of the legislation is to make it a requirement that the financial institutions immediately report abuse to law enforcement, which makes it more efficient for law enforcement to respond so all the evidence can be salvaged as quickly as possible,” said Deputy District Attorney Cynthia Nulman.

“Another vehicle in which this law is helpful is it allows an independent person the ability to be the voice for the abused, because oftentimes the elderly are not able to report such abuse because they are dependent on the very people who may be taking advantage of them,” she said.

 

Nulman added that many incidences of financial abuse among the elderly and dependent adults go unreported, but said that the District Attorney’s Office prosecutes approximately 15 cases of financial abuse annually.

“In terms of what is the most frequent type of elder abuse, it’s pretty standard across the board,” she said.  “We’ve seen everything from real estate fraud to check fraud and manipulating elder adults into giving money through undue influence.”

 

Banks, credit unions and savings association are the financial institutions affected by AB 1018. Information that is required to be reported includes number of incidences of fraud, number of items paid that may have created an overdraft, dollar volume of fraudulent items, dates and a copy of the victim’s signature card.

The county’s ombudsman office is also doing its part in educating dependent adults and the elderly about resources that are at their disposal and how to defend themselves against such crimes.

 

According to Santa Barbara County Adult Protective Services, one out of 20 elderly people will be the victim of abuse, either through neglect or financial, psychological or physical mistreatment.  

The Adult Protective Services Program is a state program that investigates abuse among the elderly and dependent adults.  The county receives about 1,500 reports each year of elder abuse, but according to adult services, financial abuse is the fastest growing among the categories of abuse and neglect.

 

The service also has formed a financial abuse specialist team, which consists of professionals, including lawyers, local law enforcement and the FBI. Though the monthly meetings are closed, it investigates more difficult cases.

“We’re very happy that the DA’s office is taking some initiative,” said Brad Parks, division chief for Adult Protective Services for Santa Barbara County’s Department of Social Services. “We see the financial abuse of elders and dependent adults as an epidemic. It’s a very serious and extensive problem.”