Financial institutions in South Carolina must provide training to staff on identifying and preventing financial exploitation of vulnerable adults.

The bill amends the South Carolina Code to require financial institutions to offer training to staff on identifying and preventing financial exploitation of vulnerable adults. This training must include recognizing signs of exploitation, respecting customer privacy, and taking appropriate action. Financial institutions must maintain records of completed training and make these records available to regulatory agencies upon request. The bill also allows vulnerable adults to designate trusted persons to be notified in cases of suspected exploitation.

Financial institutions in South Carolina must provide training to staff on identifying and preventing financial exploitation of vulnerable adults.

The bill amends the South Carolina Code to require financial institutions to offer training to staff on identifying and preventing financial exploitation of vulnerable adults. This training must include recognizing signs of exploitation, respecting customer privacy, and taking appropriate action. Financial institutions must maintain records of completed training and make these records available to regulatory agencies upon request. The bill also allows vulnerable adults to designate trusted persons to be notified in cases of suspected exploitation.