Banks must do more to prevent the financial abuse of older people, the Australian Law Reform Commission has recommended in its report on elder abuse. The ALRC found that financial abuse is one of the most common forms of elder abuse. It says financial institutions can raise awareness by informing customers of steps they can take to protect themselves and by intervening when they detect abuse. "Banks and other financial institutions will often be in a prime position to detect and prevent the financial abuse of older and at-risk customers," the ALRC says in 'Elder Abuse - A National Legal Response'. The commission has recommended that banks be required to take "reasonable steps" to identify and prevent the financial abuse of vulnerable customers, with a standard included in the Code of Banking Practice. Inclusion in the code would make the standard contractually binding. When it comes to loan guarantees, banks should warn customers, train staff and take other steps to ensure people are not financially abused, the ALRC says. It also recommended that, in some cases, banks should be required to report suspected abuse. Banks should also check arrangements that purport to authorise another person to operate someone's bank account. For example, banks might require that an employee of the bank witness the forms being signed. This might make it more difficult to submit a fraudulent form.