When you see cases of financial abuse, quite often the first step is that the individual who is doing the financial abuse is gaining the trust of the person we're trying to protect. The reason that this clause is important is that quite often you will have a situation—say it's a senior who goes to a bank—in which, if you inform the individual that “we have a concern that you're being financially abused”, the first person the senior will go back to is the person who is actually doing the abuse. In order to break that cycle, it's very important in some situations for the financial institution to be able to report to the government institution, so that the investigation can be done outside the influence of the person who may very well be perpetrating the financial abuse.
On March 24th, 2015. See this statement in context.