Vulnerable adults are being urged to keep control of their own money as much as possible, including those with decision-making and capacity challenges.
Almost a third of adults in Ireland (30%) have experienced financial abuse according to figures released by Safeguarding Ireland.
In a RED C survey, the majority of those who experienced this type of abuse said it was carried out by someone well-known to them, rather than online, or anonymously.
The most common instances of financial abuse included cash being taken from the house; change not given back or returned; the misuse of a bank card and property or possessions being used without knowledge or agreement.
Safeguarding Ireland Chairperson Patricia Rickard-Clarke said the vast majority of financial abuse is person-to-person.
“We know that it often involves coercion of a vulnerable person. It can happen when someone is dependent on another person for help, and that person subtly misuses their money. This can start small and escalate into serious crime, but all financial abuse at any level is wrongdoing and must be called out,” she said.
Safeguarding Ireland has advised people to avoid sharing bank cards, PIN numbers, account numbers and access to online banking.
It cautioned that if help is needed with day-to-day spending, it should be from “a highly trusted person” and it added, access should be limited.
People are also advised to ask for receipts, get monthly account statements and make an Enduring Power of Attorney.
HSE National Safeguarding Office General Manager Tim Hanly said financial abuse is a serious crime and he urged people to report it.
Article Source – Financial abuse experienced by 30% of adults – survey – RTE
