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Suspect financial elder abuse? Your local Virginia bank teller could be an unexpected ally

Financial abuse of the elderly is a topic that does not get enough attention in Virginia. However, it is a growing problem and as more and more baby boomers age and enter assisted living or nursing home facilities in Virginia the problem will only get worse.

If you are concerned about an elder in your life, it may help to know that you could have an ally in the fight to spot elder financial abuse in Virginia: your local bank teller. Many large banking, insurance and investment companies have found that training low-level bank employees – for example bank tellers, who see customers regularly as a part of their – can protect the elderly from financial abuse.

Elder financial abuse can be perpetrated by somebody the elder knows or by a total stranger. Sadly, it is often a family member of friend who takes financial advantage of an elderly person. It is tough to spot elder financial abuse when it is done by a friend, caregiver, or family member, which is why special training is helpful.

Bank tellers can be trained to spot unusual behavior in a regular client, note changes in usage patterns in their accounts, or see that a new person is becoming more and more involved in the elder’s finances.

What are some of the ‘red flags’ for financial abuse that bank tellers are trained to spot?

There is a training program available for banks interested in training their employees in this ground-level approach to spotting and preventing elder financial abuse. Check with your elder’s bank to see if they have such a program or would be interested in implementing one.

The small cost of such a program is worth it – research into the program shows that tellers are accurate about 70 percent of the time in spotting cases of financial exploitation when properly trained. Given the large number of vulnerable elders in our communities across Virginia, banks can’t afford to not take this small step to prevent abuse.

Please do not hesitate to get help if you suspect that a loved one is suffering from nursing home or assisted living abuse or neglect in Virginia. You can call us for a no-cost, completely confidential discussion of your situation at any time.

Weisberg & Zaleski, P.C.

112 College Place

Norfolk, VA 23510

Toll Free: (800) 690-0235

Phone: (757) 622-7740

Fax: (757) 533-9223




Michael S. Weisberg, P.C.
112 College Place
Norfolk, VA 23510
Phone: (757) 622-7740
Fax: (757) 533-9223
Toll Free: (800) 690-0235
Email: info@weislaw.com
www.weislaw.com