Financial abuse can involve theft, fraud, scamming and exploitation. It can also be when a person is coerced into certain financial affairs or arrangements, including pressure in connection with wills, property, inheritance or financial transactions, or the misuse or misappropriation of property, possessions or benefits. Blackmail is a type of abuse that can be used for financial gain and may involve using threats of physical, mental or emotional harm, or of criminal prosecution, against a victim or someone close to them. You, or someone you know, may be being financially abused if you spot any of these indicators:
- Substantial increase in account activity, particularly when a joint bank account has recently been established or someone is now assisting the individual with their finances
- Person with a disability is accompanied by family, staff or others who appear to coax, or otherwise pressure, the individual into making transactions
- Individual is confused about missing funds in accounts
- 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