Financial or material abuse is any theft or misuse of a person’s money, property or resources by a person in a position of, or expectation of, trust to a vulnerable person. Common forms of financial abuse are misuse by others of a vulnerable adult’s state benefits or undue pressure to change wills.
Financial/material abuse may also be perpetrated by one vulnerable adult upon another.
Typical examples of financial or material abuse:
- Misuse of money, including state benefits, property, possessions and insurance.
- Gaining money or possession by threat, persuasion, or exploitation.
- Blocking access to assets.
- Falsifying records.
- Coerced property transfer.
Possible indicators of financial or material abuse:
- Pension is cashed but the individual has no money, particularly when it is unusual for that person to spend money without assistance.
- Unexplained or inappropriate withdrawals from bank accounts
- Unpaid bills or overdue rent when someone is supposed to be undertaking this responsibility for paying bills.
- Enduring Power of Attorney given or recent changes or creation of a Will when the person is incapable of making such decisions.
- The individual requires residential/nursing care but is prevented by relatives from entering a residential/nursing home because the client owns their own property and there are concerns about the inevitable depletion of their estate.
- Deliberate isolation by carer (informal/formal of a vulnerable adult) from friends or family resulting in carers having total control.
- The unexplained disappearance of financial documents, e.g. building society books, and bank statements, payments or order books.
- Signatures on cheques which do not resemble the vulnerable adult’s signature or signed when this person cannot write.
- Unusual concern by carer that an excessive amount of money is being expended on the care of the vulnerable adult.
- Lack of amenities such as TV, appropriate clothing, personal grooming items that the vulnerable adult can well afford.
- Missing personal belongings such as silverware, jewellery, or other valuable item.