Financial abuse
Examples and signs of financial abuse
Examples of financial abuse can include:
- theft of money, personal possessions, insurance
- removal or control of a person's finances without their knowledge or permission
- blackmail
- pressure exerted in terms of wills, property and inheritance
- pressure exerted in terms of financial transactions
Possible signs of financial abuse are:
- sudden inability to pay for household shopping or bills
- unexplained withdrawals of large amount of money
- personal possessions going missing from the persons home
- living conditions appear poor in comparison to the income of the person
- unusual amount of interest from a family member, friend, carer, neighbour, stranger or salesperson into the assets of the adults
Tips for managing someone else's money safely
Managing money can be stressful. Getting everything in place now can help reduce the risk of problems later. If you are a carer or someone you know is already managing someone else’s finances it’s important to manage finances safely to protect them and the money.
Attached to this page is a top ten tips guide that has been produced in association with Age UK Derby and Derbyshire, Derbyshire Carers Association and the Alzheimer's Society. The guide has advice on:
- Getting a power of attorney set up
- Keeping their money and yours separate
- Use systems designed to help you
- Make a budget and keep a record
- Imagine you are being watched
- Involve the person you support
- Have a plan and manage vulnerability
- Claim all the entitlements
- Do you best
- Be safe
British Sign Language 'What is cybercrime?' video
The East Midlands Special Operations Unit (EMSOU) has produced a fully signed British Sign Language video called ‘What is Cybercrime?’ to help warn the deaf community about cyber security, fraud and scams that could affect them.
Stop Loan Sharks campaign
The British Deaf Association Midlands have had the opportunity of working with the England Illegal Money Lending Team to deliver a series of Zoom workshops with various Deaf groups across the Midlands to explain about their Stop Loan Sharks campaign.
This gave Deaf people the opportunity to ask questions about this subject and some of these questions were put to Steve Ward from the Illegal Money Lending Team in a Zoom interview. Steve was able to explain about the Stop Loan Sharks campaign and to respond to questions raised in the various workshops that have taken place.
The British Deaf Association has more information about their Stop Loan Sharks campaign.
If you would like to find out more information about identifying, reporting and stopping loan sharks, please look at the England Illegal Money Lending Team website.
Scams targeting students
Students should be aware of the many scams aimed specifically at them. For example, unsolicited contact that asks for sensitive information or money.
Scammers will often claim to be from legitimate organisations and authorities such as a university, bank or the police. If an organisation contacts you without prompting, never provide sensitive information or money.
To help raise awareness amongst students about how to protect themselves against scams and what they should look out for, we have produced a leaflet, which is attached to this page.