As we know, elderly citizens are often financially exploited. A recent Illinois nursing home abuse case reminded us that even when supposedly safe in a nursing home, elder citizens fall victim to financial exploitation. California enacted a new law requiring banks to report suspicious financial activity involving elderly clients and it has already reaped results!
An 83 year-old man who almost lost $700,000 to an unethical niece now has most of his money back. A bank employee saw suspicious activity on the account and contacted the police. They subsequently put a freeze on the account.
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