By Terry Kovarik
The president of the Bank of Luxemburg is making sure staff members are trained to detect abuse of older customers and protect them from fraud. A Wisconsin Department of Justice training video is the latest tool to help banking professionals spot older customers who may be potential victims of elder financial abuse. Bank of Luxemburg President and CEO Tim Treml :: trem-UHL :: says tellers and others continually listen for keywords to spot efforts to defraud elders. [TREML]
The True Link Report on Elder Financial Abuse 2015, reveals that seniors lose nearly $36.48 billion yearly to elder financial abuse. Treml says accounts requiring signatures from an elderly customer and one of their adult children for certain transactions is one way to reduce the threat of fraud.