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Net gambling rule elder financial abuse audios soon
MADISON, Wis. (11/30/09)--Two audio conferences on Internet gambling rules and preventing elder abuse will be offered by the Credit Union National Association (CUNA) this week and next. “Are You Ready for the New Unlawful Internet Gambling Rule” will be offered Tuesday at 1 p.m. CST. The audio will provide a brief overview of the Unlawful Internet Gambling Enforcement Act (UIGEA) and an update on legislative efforts to postpone compliance with the law. In 2008, the Department of the Treasury and the Federal Reserve Board issued a final rule to implement UIGEA. The final rule was effective Jan. 19 with a compliance date of Dec. 1. Five payment systems are affected by the regulation: automated clearing house systems (ACH), card systems, check collection systems, money transmitting businesses and wire transfer systems. The audio will help attendees:
* Identify what to include in policies and procedures; * Learn how to create a disclosure or an addendum to a membership agreement; * Identify ACH risks for credit unions; * Examine how to avoid risks to a card program; * Discover what to watch for when accepting bank wire requests over the Internet; and * Train staff on the requirements of the new regulation.
“Senior Financial Scams: The CU’s Role in Preventing Elder Financial Abuse” will be offered Dec. 8. The National Center on Elder Abuse defines elder abuse as the illegal taking, misuse, or concealment of funds, property, or assets of a vulnerable elder at risk for harm by another due to changes in physical functioning, mental functioning, or both. Through this webinar, credit unions will:
* Discuss the definition and scope of Elder Financial Abuse; * Learn the characteristics of the typical victims of this crime; * Hear about different types of financial exploitation; * Identify ways of recognizing members who may be victims; and * Determine a plan of action for assisting victims of elder financial abuse.
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