NCJ Number
176430
Journal
Journal of Elder Abuse & Neglect Volume: 8 Issue: 4 Dated: 1997 Pages: 59-71
Date Published
1997
Length
13 pages
Annotation
The goal of the Massachusetts Bank Reporting Project, a public-private partnership between State government and the banking industry, is to prevent elder financial exploitation by educating bank employees and consumers; increasing voluntary cooperation within the financial industry, elder protective services, and law enforcement; and encouraging the banking industry to develop and promote methods of protecting customers and their assets.
Abstract
In the first 6 months of the project, more than two-thirds of member banks of the Massachusetts Bankers Association agreed to participate. Approximately 1,000 employees of financial institutions were given initial training. In addition to the training component, the project consisted of a protocol for reporting and cooperating with the investigation and a consumer brochure. During that period, 57 reports of exploitation were made by bank personnel statewide, compared to 10 reports received in the previous 12 months. Although working with the banking industry to address concerns regarding confidentiality, liability, security, and customer relations was very time- consuming, such work resulted in a successful model that can be replicated by other States. 4 references and 2 figures