Top tips for managing money and preventing financial abuse

Planning for the future after a diagnosis of dementia

1. Discuss money management with your family

Money can be a difficult subject to talk about, but it is important you plan how you want your finances to be managed if you become unable to look after them yourself.

2. Set up a Lasting Power of Attorney (LPA)

This enables you to choose someone you trust to make decisions on your behalf about things such as paying bills and collecting income if you become unable to take those decisions.

3. Speak to the local bank manager

Speak to your bank manager as soon after your diagnosis as possible. The discussion can look at extra support that may be available and ways of managing money, for example, using a signature card instead of a PIN.

4. Stop junk mail and unwanted telephone calls

There are a number of ways to do this such as signing up to the Mailing Preference Service and joining the Telephone Preference Service register. 

5. Put a 'no cold callers' sign on the door

These can be obtained from the local trading standards department. Six of the major energy suppliers will not knock on doors that have a 'no door to door salesmen' sign on them.

Recognise the signs - how to spot the signs of financial abuse in a person with dementia

1. Monitor bills and check bank statements

If bills are left unpaid or large sums of money have come out of a person's account, this could be an indication that they are not managing financially or have been scammed.

2. Be aware of unusual or seemingly unneeded purchases in the home

These items could have been miss-sold by unscrupulous cold callers or telesales companies.

3. Look out for unexpected changes to the person's house

This could include incomplete renovations, missing valuables or workmen visiting to carry out unnecessary work.

4. Be aware of sudden new friends or acquaintances

In particular, be aware of those who the person says are inquiring about moving in, taking trips together or making joint financial commitments.

5. Check that large amounts of cash are not being kept in the home

This could be a sign that the person with dementia is withdrawing large amounts of cash which will put them at unnecessary risk of theft.

Where to go for further help and advice

Planning your finances: Office of the Public Guardian

General money management advice: Citizens Advice or Consumer Direct

Stop unwanted calls and junk mail: Telephone Preference Service, Mail Preference Service

Avoid scams: Scambusters, Junkbuster

Who to call to report abuse

1. If a crime is committed call the police. In an emergency (if someone is in danger of immediate harm or a crime is being committed) call 999. At other times call 101.

2. The local adult social services (adult safeguarding team).

3. In residential care, nursing care or domiciliary care or other services, you can also contact the Care Quality Commission on 03000 616161 or email enquiries@cqc.org.uk

4. For matters relating to Enduring Power of Attorney or Lasting Power of Attorney (or Deputy), you can also contact the Compliance Unit of the Office of the Public Guardian. (OPG) The dedicated phone line for reporting concerns is 0115 934 2777.  The OPG can investigate the actions of a Deputy or Attorney and can refer concerns to other relevant agencies. When it makes a referral, the OPG will make sure that the relevant agency keeps it informed of the action it takes. The OPG can also make an application to the court if it needs to take possible action against the attorney or deputy.

5. Elder Abuse Response: 080 8808 8141