Professionals in various fields play a critical role in protecting the financial well-being of their clients.  This includes being vigilant against financial exploitation and taking proactive steps to prevent it from happening.  Most states have laws related to mandatory reporting, which require doctors, accountants, bank tellers, counselors, and other professionals to report suspected cases of financial exploitation to the proper authorities.

Mandatory reporters would be required by law to report suspected cases of financial exploitation to police and/or APS.

Requirements

The exact reporting requirements vary depending on the jurisdiction, but they typically include the following steps:

  • Identifying and documenting suspected cases of financial exploitation.
  • Reporting the suspected abuse to the appropriate agency, such as local law enforcement, adult protective services, or a financial regulatory body.
  • Keeping records of the reported abuse and any follow-up actions taken.

 Challenges

Mandatory reporting can be a challenging responsibility, but it is an important one.  By reporting suspected cases of financial exploitation, we can help protect the vulnerable and bring perpetrators to justice.

However, professionals must balance their ethical obligation to report suspected abuse with the duty of confidentiality and protecting the privacy and protected information of patients and clients.

Professionals should always follow the proper procedures for reporting abuse.  By doing so, we protect both the victim’s rights and their well-being.