Nationwide Reporting Chart

For Suspected Exploitation Of Seniors And/Or Vulnerable Persons

 

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Statute
N.C. Gen. Stat. § 108A-102(a), (c).
N.C. Gen. Stat. § 108A-101(c), (d), (n).
N.C. Gen. Stat. § 108A-115(a)(1)-(3), (c).
N.C. Gen. Stat. § 108A-113(2), (8).
Financial Services Professionals
(Mandated? Permissive?)

Any person having reasonable cause to believe. (Mandated)

Any financial institution, or officer or employee thereof. (Mandated)

State Report & Hold
(Y/N)

No.

Reporters

Any person having reasonable cause to believe that a disabled adult is in need of protective services shall report such information to the director. N.C. Gen. Stat. § 108A‑102(a).

Director: The director of the county department of social services in the county in which the person resides or is present, or his representative as authorized in G.S. 108A-14. N.C. Gen. Stat. § 108A-101(c).

Protective Services: services provided by the State or other government or private organizations or individuals which are necessary to protect the disabled adult from abuse, neglect, or exploitation. They shall consist of evaluation of the need for service and mobilization of essential services on behalf of the disabled adult. N.C. Gen. Stat § 108A-101(n).

Any financial institution, or officer or employee thereof, having reasonable cause to believe that a disabled adult or older adult is the victim or target of financial exploitation shall report such information to (1) Persons on the list provided by the customer under G.S. 108A-114, if such a list has been provided by the customer. The financial institution may choose not to contact persons on the provided list if the financial institution suspects that those persons are financially exploiting the disabled adult or older adult. (2) The appropriate local law enforcement agency. (3) The appropriate county department of social services, if the customer is a disabled adult. N.C. Gen. Stat. § 108A-115(a)(1)-(3).

Protected Individuals

Disabled Adult: An individual 18 years of age or older or a lawfully emancipated minor who is present in the State of North Carolina and who is physically or mentally incapacitated as defined in G.S. 108A-101(d). N.C. Gen. Stat. § 108A-113(2).

Disabled Adult: Any person 18 years of age or over or any lawfully emancipated minor who is present in the State of North Carolina and who is physically or mentally incapacitated due to mental retardation, cerebral palsy, epilepsy or autism; organic brain damage caused by advanced age or other physical degeneration in connection therewith; or due to conditions incurred at any age which are the result of accident, organic brain damage, mental or physical illness, or continued consumption or absorption of substances. N.C. Gen. Stat. § 108A-101(d).

Older Adult:  An individual 65 years of age or older. N.C. Gen. Stat. § 108A-113(8).

Financial Institutions-Immunity (Y/N)

Yes.

Anyone who makes a report pursuant to this statute, who testifies in any judicial proceeding arising from the report, or who participates in a required evaluation shall be immune from any civil or criminal liability on account of such report or testimony or participation, unless such person acted in bad faith or with a malicious purpose. N.C. Gen. Stat. § 108A‑102(c).

No financial institution, or officer or employee thereof, who acts in good faith in making a report under this section may be held liable in any action for doing so. N.C. Gen. Stat. § 108A-115(c).

** See Senior Safe Act

* Although care has been taken to ensure the accuracy and completeness of the information provided, EverSafe assumes no responsibility therefore and urges users of the information to check sources before use. Information is updated regularly and subject to change.
** On May 24, 2018, the Senior Safe Act was signed into law on a federal level as part of Economic Growth, Regulatory Relief, and Consumer Protection Act (Pub. Law No: 115-174). The Act is now codified at 12 USC § 3423. It extends immunity from liability to covered financial institutions who disclose suspected financial exploitation of adults 65 years and older to regulatory or law-enforcement agencies.
*** On February 5, 2018, FINRA Rule 2165 was adopted. Rule 2165 allows members to place temporary holds on disbursements of funds or securities from the accounts of a person 1) age 65 or older or 2) 18 years or older who the member reasonably believes has a mental or physical impairment that renders the individual unable to protect his or her own interests, if the member reasonably believes that financial exploitation of the person has occurred, is occurring, has been attempted, or will be attempted.