State of Oregon Report Finds Oregon Bankers are Top Reporters of Substantiated Elder Financial Abuse Allegations

SALEM, Ore., Sept. 25, 2014 /PRNewswire-USNewswire/ -- In a report released two weeks ago by the Office of Adult Abuse Prevention and Investigations (OAAPI), a shared service between the Department of Human Services (DHS) and the Oregon Health Authority, it was revealed for the first time that non-mandatory reporters, such as bank employees and family members, were the most frequent reporters of financial abuse.

In Oregon, there are many professionals who are mandated to report suspected elder abuse while acting in their official capacity.  However, these individuals were not the most frequent reporters.  In 2013, those with a non-mandatory duty to report did so at least 60 percent of the time.  When the data is drilled down, and only substantiated allegations of abuse are examined, the most frequent reporters are bankers, followed by family members  and law enforcement. 

According to Rebecca Fetters, study author and researcher, this highlights the fact that even though bankers are not mandatory reporters, they have taken it upon themselves to do the right thing and recognize that they, along with close friends and family, are in a unique and important position to identify the warning signs and do something about it. To view the study in its entirety, go to: www.oregon.gov/dhs/abuse/Documents/Financial-Exploitation-Oregon.pdf.

Since 1995, the Oregon Bankers Association, DHS and OAAPI have led a successful public/private partnership that strives to prevent, detect and report suspected financial abuse of seniors in Oregon.  The major product of this partnership is a comprehensive banker's toolkit that includes information to help bank personnel recognize and report possible elder financial exploitation.  In 2013, the toolkit, Preventing Elder Financial Exploitation: How Banks Can Help, was updated and re-released to every bank in Oregon. The toolkit is also available free to interested parties at www.oregonbankers.com/community/elder-exploitation-prevention.   

The 2013 DHS study revealed that financial exploitation continues to be on the rise in Oregon, with allegations increasing 18 percent over 2012.  Financial exploitation now represents 42 percent of all abuse investigations conducted by Adult Protective Services (APS).  National studies confirm that for every one case of financial exploitation that reaches the attention of APS or other authorities, an estimated 44 go unreported.  The study also confirms that the major perpetrators of financial exploitation in Oregon continue to be family members, including spouses, children, siblings, and grandchildren.

If you suspect elder abuse, neglect, or exploitation, call your local DHS office or local law enforcement.  Help is available.  If you are unsure who to contact, call DHS at 1-800-232-3020.

About the Oregon Bankers Association
Established in 1905, the Oregon Bankers Association is Oregon's only full-service trade association representing state and national commercial and savings banks chartered to do business in Oregon.  More information is available at www.oregonbankers.com.

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SOURCE Oregon Bankers Association