Banks get tools to stop elder financial abuse

SPRINGFIELD — Employees of Illinois financial institutions are now required to be trained to identify the signs that someone is a victim of financial exploitation.

Rules adopted by the General Assembly took effect Monday requiring the training.

Brent Adams is secretary of the Illinois Department of Financial and Professional Regulation. He says it's particularly important to safeguard seniors. The rules take effect during Elder Abuse Awareness month.

Signs of exploitation include sudden changes in accounts or banking practices; new names on bank signature cards; unauthorized use of ATM or credit cards and abrupt changes in financial documents.