South Carolina law will protect seniors from financial crimes

The banks also have the power to decline, delay, or report transactions that are suspicious.
Author: WLTX
Updated: 8:12 PM EDT July 28, 2021
COLUMBIA, S.C. — South Carolina Gov. Henry McMaster has signed a bill to help protect vulnerable adults against financial exploitation.
The measure allows financial institutions like banks and credit unions to report suspected exploitation to the South Carolina Department of Social Services and the office of the attorney general. The banks also have the power to decline, delay, or report transactions that are suspicious.
The bill defines 'vulnerable adults' as those 55 and up.
"This gives us a way to nip things in the bud," McMaster said, arguing that many seniors are targeted by con artists. 

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