Financial Exploitation / Elder Abuse 

In the 2010 legislative session Substitute Senate Bill 6202 was passed, which requires financial institutions operating in Washington State to train their employees on recognizing vulnerable adult abuse.

All financial institutions with operations in Washington State are required to train their customer service employees; it is up to each institution to ensure the training gets done. There are no reporting requirements and no agency will be regulating compliance. 

If your institution has developed your own training on this subject is should at least cover the following topics:

• Recognition of financial exploitation indicators of a vulnerable adult
• The manner in which employees should report suspected financial exploitation
• Steps employees should take to prevent suspected financial exploitation of a vulnerable adult as authorized by law or agreements between the financial institution and customers of the financial institution.