Auditing Elder Financial Exploitation: Minding Your Own Business or Making It a Part of Your Business

Terri Sands, CAMS-Audit

The purpose of this white paper is to furnish best business practices for independent testing on validating the effectiveness of the program, provide awareness of the growing problem of elder financial exploitation and the significance of a financial institutions’ involvement and highlight regulatory expectations and guidance. Best business practices are based on experience, trial and error, known elder financial exploitation cases and today’s regulatory expectations.

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