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Safeguarding Adults Week 2023 – Financial Abuse

What is financial abuse?

Types of financial or material abuse

Theft of money or possessions

Fraud, scamming

Preventing a person from accessing their own money, benefits or assets

Employees taking a loan from a person using the service

Undue pressure, duress, threat or undue influence put on the person in connection with loans, wills, property, inheritance or financial transactions

Arranging less care than is needed to save money to maximise inheritance

Denying assistance to manage/monitor financial affairs

Denying assistance to access benefits

Misuse of personal allowance in a care home

Misuse of benefits or direct payments  in a family home

Someone moving into a person’s home and living rent free without agreement or under duress

False representation, using another person’s bank account, cards or documents

Exploitation of a person’s money or assets, e.g. unauthorised use of a car

Misuse of a power of attorney, deputy, appointeeship or other legal authority

Rogue trading – e.g. unnecessary or overpriced property repairs and failure to carry out agreed repairs or poor workmanship – types and indicators of abuse

Signs and indicators

Missing personal possessions

Unexplained lack of money or inability to maintain lifestyle

Unexplained withdrawal of funds from accounts

Power of attorney or lasting power of attorney (LPA) being obtained after the person has ceased to have mental capacity

Failure to register an LPA after the person has ceased to have mental capacity to manage their finances, so that it appears that they are continuing to do so

The person allocated to manage financial affairs is evasive or uncooperative

The family or others show unusual interest in the assets of the person

Signs of financial hardship in cases where the person’s financial affairs are being managed by a court appointed deputy, attorney or LPA

Recent changes in deeds or title to property

Rent arrears and eviction notices

A lack of clear financial accounts held by a care home or service

Failure to provide receipts for shopping or other financial transactions carried out on behalf of the person

Disparity between the person’s living conditions and their financial resources, e.g. insufficient food in the house

Unnecessary property repairs