Hawaii HB1640 mandates financial institutions to develop policies for preventing and reporting financial exploitation of vulnerable adults.

Hawaii HB1640 requires financial institutions to create policies for recognizing, preventing, and reporting financial exploitation of vulnerable adults. These policies must include employee training on common types of exploitation, signs of potential exploitation, and procedures for reporting suspected exploitation to law enforcement or the Department of Human Services. Financial institutions may delay or freeze transactions if exploitation is suspected, and must notify account owners of any freezes.

Hawaii HB1640 mandates financial institutions to develop policies for preventing and reporting financial exploitation of vulnerable adults.

Hawaii HB1640 requires financial institutions to create policies for recognizing, preventing, and reporting financial exploitation of vulnerable adults. These policies must include employee training on common types of exploitation, signs of potential exploitation, and procedures for reporting suspected exploitation to law enforcement or the Department of Human Services. Financial institutions may delay or freeze transactions if exploitation is suspected, and must notify account owners of any freezes.