Police & Banks

A scam isn't "just a civil matter" — stealing from an elder is a crime in California under Penal Code § 368. This episode breaks down the legal duties that kick in the moment you report it, covering both law enforcement and your bank.

Creators and Guests

Host

Michael Slider

Retired LAPD detective (30 years) and licensed PI Michael Slider exposes the scams targeting seniors — and shows you how to fight back.

Producer

Michael Slider

Retired LAPD detective (30 years) and licensed PI Michael Slider exposes the scams targeting seniors — and shows you how to fight back.

What is The Senior Fraud Report?

The Senior Fraud Report with Host Michael Slider (Ret. LAPD Detective) helps seniors and their families fight back against the scams that drain victims of billions—breaking down how they work and how to stay protected.

Duty to Act
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They never sound like criminals. That's the whole trick. A friendly voice, a reason to hurry, a story that tugs right at your heart. And by the time the phone goes quiet, the money's gone, and so is the person who took it. I'm Michael Slider, a retired 30-year veteran detective from the LAPD, and I'm here to make sure that voice never gets the better of you or the people you love.

This is the Senior Fraud Report Podcast.

When a scammer steals from an older adult, most people think the victim is on their own, that the money is just gone, and the only person with a job to do was the crook That's wrong.

The moment you report elder fraud in California, two sets of people take on legal duties: the police and your financial institution or wherever you use to move that money, credit unions, whatever. They are supposed to act, and most of the time, the victim never finds out what those duties are. I spent thirty years carrying a badge at LAPD, and I'm gonna walk you through exactly what each of them owes you.

I'm Michael Slider. This is the Senior Fraud Report Let me clear up the biggest myth first. A scam is not just a civil matter. Stealing from an elder in California is a crime under Penal Code Section 368. An officer waves you off and tells you to hire a lawyer is getting it wrong Here's what the police are supposed to do.

This is based on LAPD and, and some of the sheriff stuff, but this is basic stuff that any police department should do in California Number one, if it's happening right now, the money is still moving, the suspect is calling, this is a nine one one emergency, not a problem for later Two, they must treat it as a possible elder financial abuse, and they investigate it.

They don't just take your name and send you home. Three, they take a report even if you're embarrassed, even if you don't want to press charges. The rule is simple: If it looks like a cybercrime happened, they complete the report anyway. Four, they need to interview the elder with care and often alone because scammers isolate people and threaten them, and the truth comes out easier in private.

Five, they write down evidence, phone numbers, email, gift card numbers, wire receipts, crypto wallet addresses, screenshots, transaction IDs, all of it goes in the report Six, they complete a crime report in a state form, the SOC-341, the Report of Suspected Elder and Dependent Abuse. Seven, they notify Adult Protective Services.

In Los Angeles County, that hotline is eight seven seven four seven seven three six four six. Eight, they route the case to detectives, financial crimes or fraud unit, not just a referral to your bank.

And nine, they give you a report number and a way to follow up so the case does not just disappear. Now, the LAPD and the Los Angeles Sheriff Department each have their own rules on top of that, like deadlines when a report has to be approved, a supervisor sign-off, blah, blah, blah. They all have a little different things.

But the core list, take a report, fill out the SOC-341, call APS, That comes from California law. It's the same job in every city and every county in the state of California Now, what must the bank do? Now, the bank, and this goes to credit unions, payment apps, wire companies, any of these people handling your money and moving it around.

Here is the rule that surprises people. If money left in your account because someone hacked you, stole your card, or used login codes they tricked you out of, this is an unauthorized transfer. And under federal rule called Regulation E, the burden is not on you. The bank has to prove that you authorized it.

If they can't prove it, they have to put the money back. That is federal law, so it protects you whether you bank in California, Texas, or anywhere else. Second, banks are required to file what's called a suspicious activity report when they spot something that looks wrong. This isn't a small thing. Federal regulators fine one bank over a billion dollars for failing to file these reports the way the law requires.

Third, in California, bank employees are considered mandated reporters of suspected elder financial abuse. They use a California state form, the SOC-342.

If they fail to report it, the penalty can run up to $1,000 and up to five thousand if the failure is intentional Now I have to be straight with you There's a difference between money taken without your say so and money you sent yourself because you were tricked.

If you wire the money, bought the gift card, or sent crypto with your own hands, believing a lie, that is called a scam-induced payment. Getting that money back is harder and automatic reimbursement may not apply But And write this down. The bank still has duties. They are supposed to watch out for patterns, still supposed to report suspected elder abuse, still supposed to try and recall your transfer.

You sending it yourself does not erase their job

So what do you do when they don't do their job? So what do you do when the police brush you off or the bank denies your claim? You don't give up. You build a record. Step one, put it in writing. Tell the bank in writing that this is a formal notice of error and unauthorized transfer claim under Regulation E and ask them to investigate and preserve all records.

Step two, if they deny you, make them explain why and ask what evidence proves you authorized it and whether they treated it as elder exploitation. Step three, file a complaint with the right regulator.

For most banks, that's the CFPB. For credit union, the NCUA. And here in California, the Department of Financial Protection and Innovation, the DFPI. These people love their acronyms. And as for the elder abuse itself,

Adult protective services and your local law enforcement Here's what I want you to walk away with. When a scammer hits an older adult, you're not powerless and you're not alone in it. The law hands the police and bank a real list of things they're required to do. Knowing that list is how you hold them to it.

If this helped you, share it with someone you're looking out for, a partner, a neighbor, a friend. That's how we keep each other safe. I'm Michael Slider from the Senior Fraud Report. Until next time, stay safe.

That's our show for today. Before you go, do me one small favor. Think of a person in your life, a parent, a neighbor, an old friend who could use what you've heard today and pass it along. That's how we look out for each other. And remember the golden rule around here, when a stranger gives you a reason to hurry, to wire money, to buy gift cards, to keep a little secret, that is not an emergency.

That's a red flag. Slow down, hang up, and call someone you trust. There's no problem so urgent it can't wait five minutes. If today's episode helped, follow the Senior Fraud Report wherever you're listening and leave a review. It helps us reach more folks who need it. I'm Michael Slider. Thanks for spending a little time today with me.

Until next time, stay sharp, stay kind, and stay safe out there.