A helpful blog published by Solicitors for the Elderly concerning how to identify signs of financial abuse, the steps that can be put in place to try to avoid financial abuse and useful contact numbers to report suspected financial abuse.
It is a concerning reality that financial abuse of the elderly is happening on a large scale across the world. Recent data indicates that those aged 65 and above are often the main target of financial abuse.
So how can you spot the signs of abuse?
How to spot financial abuse
Financial abuse comes in many forms. Some typical examples might include:
The misuse of a persons funds or assets
Mixing of money
Not acting in a persons best interests when managing their affairs
Unpaid bills (particularly care home fees)
Opening a credit card account or making loan applications for the person
High risk investments
Not keeping appropriate records.