Financial abuse
Financial abuse is on the rise and everyone needs to be vigilent and look out for the signs of financial abuse.
Financial abuse is another name for stealing or defrauding someone of their goods, money or property. It is always a crime.
Very often the person who causes the abuse is someone's son or daughter.
Examples of financial abuse include:
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son's or daughter's saying that they are just getting their inheritance in advance
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misuse of Powers of Attorney, including removing or controlling someone's finances without permission
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blackmail or taking advantage
These could include:
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unexplained or sudden inability to pay bills
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unexplained or sudden withdrawal of money from accounts
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extraordinary interest by family members and other people in the vulnerable person's assets
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power of attorney is obtained when the vulnerable adult is not able to understand the purpose of the document they are signing
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recent change of deeds or title of property
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the person who manages the financial affairs is evasive or uncooperative
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a high level of expenditure without evidence of the person benefitting
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the purchase of items which the person does not require or use
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Personal possessions go missing from the person's home
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they don't live in conditions that match the money the person receives
Elsa, 89 from Cannock
The situation
Elsa has dementia but handed over her financial affairs to her son Malcolm before she became too bad.
Her finances have been assessed a couple of times by health professionals. Two years ago she had £400,000 in various accounts, but now she has less than £10,000. It might be that Malcolm has financially abused his mother.
What happened next?
Another family member contacted the Staffordshire and Stoke-on-Trent Adult Safeguarding Partnership. The call handler assured her that this would be raised as a safeguarding alert. An investgation was conducted, which included help from the Police.
What happened in the end?
The financial abuse stopped and a care agency sent a home carer to help Elsa manage. Elsa didn't want to report the incident as a crime, so the Police took no further action, although Malcolm was interviewed under caution.