California AB871 mandates financial institutions to report suspected financial abuse of elders or dependent adults.

California AB871 requires financial institutions to report suspected financial abuse of elders or dependent adults. Mandated reporters include officers and employees of financial institutions who observe or have knowledge of behavior or transactions that reasonably suggest financial abuse. Reports must be made by telephone or through a confidential internet tool to local agencies and the Federal Bureau of Investigation Internet Crime Complaint Center. Financial institutions must provide annual training on reporting procedures.

California AB871 mandates financial institutions to report suspected financial abuse of elders or dependent adults.

California AB871 requires financial institutions to report suspected financial abuse of elders or dependent adults. Mandated reporters include officers and employees of financial institutions who observe or have knowledge of behavior or transactions that reasonably suggest financial abuse. Reports must be made by telephone or through a confidential internet tool to local agencies and the Federal Bureau of Investigation Internet Crime Complaint Center. Financial institutions must provide annual training on reporting procedures.