What is the recommended action if a registered representative suspects financial exploitation of an 85-year-old client?

In a situation where a registered representative suspects financial exploitation of an elderly client, the recommended action is to immediately place a temporary hold on the account. This is important because elderly individuals can be more vulnerable to exploitation, and taking prompt action can help protect their assets from potential harm.

In this context, processing the transaction without further investigation would not address the potential risk and could allow exploitation to continue. Attempting to resolve the matter with the customer prior to placing a temporary hold may not be advisable, as it could inadvertently alert the exploiter or fail to adequately protect the client's interests. Contacting an attorney may be useful in some cases; however, the immediate priority should be to prevent further potential financial harm and preserve the client’s funds by placing a temporary hold. This approach ensures that the concerns of exploitation are proactively addressed, prioritizing the safety and security of the elderly account holder’s financial wellbeing.