Safeguarding Partnership Blog (September 2024) - Spotlight on Financial Abuse and Safeguarding Tue 24 Sep 2024

Spotlight on Financial Abuse and Safeguarding

Hello everyone, I'm Darren Minton, your Safeguarding Business Manager.

As the leaves begin to change and we move into the heart of autumn, it's a time of reflection and awareness in our community. This month, we're turning our attention to an issue that often stays hidden in the shadows—financial abuse. It's not always easy to spot, but it can have devastating effects on individuals and families, leaving emotional and physical scars that last far beyond the financial losses.

In these challenging times, with rising costs and economic uncertainty, it's more important than ever to understand what financial abuse is, how it impacts those around us, and what we can do to help. Financial abuse is closer to home than we might think, but with our collective understanding and support, we can make a difference. Let's explore this together, learn how to recognise the signs, and find out how we can support each other in protecting those most at risk.

Understanding Financial Abuse

Financial abuse is a form of exploitation that involves controlling a person's ability to acquire, use, and maintain their financial resources. It can take many forms, from restricting someone's access to their own money to pressuring them into debt. While it can happen to anyone, those who are already vulnerable, such as older adults or individuals with disabilities, are often the most affected.

What Does Financial Abuse Look Like?

• Elder Financial Abuse: This might involve a family member or caregiver taking control of an older person's bank account property or even forcing them to change their will. For instance, a caregiver might persuade an older person to sign over their property or change their will, effectively depriving them of their rightful assets. Domestic Financial Abuse: One partner might prevent the other from accessing money, working, or deciding how household finances are spent, creating a cycle of dependency and control.
• Scams and Exploitation: Fraudsters often target vulnerable individuals with scams that can wipe out their savings, leaving them without the means to live safely and independently.

Financial abuse isn't just about money; it's about power, control, and, ultimately, the wellbeing of the person being targeted. By understanding the signs and knowing how to respond, we can all play a role in safeguarding our community.

Signs to Watch Out For

It's not always easy to spot financial abuse, especially when the abuser is someone the victim trusts or relies on. However, there are some warning signs that may indicate something is wrong:

• Unexplained Bank Activity: Look for sudden large withdrawals, transfers, or changes in spending patterns that don't fit with the person's usual behaviour.
• Lack of Essentials: If someone who should have enough resources is struggling to pay for basics like food, clothing, or medical care, this could be a red flag.
• Isolation: The person may seem more withdrawn, or a caregiver might be keeping them from speaking with others freely.
• Changes in Legal Documents: Sudden changes to a will, power of attorney, or other financial documents without a clear reason could indicate coercion or manipulation.
  If you notice any of these signs in someone you know, it's important to take them seriously and seek advice or help.

What to Do If You Suspect Financial Abuse

If you're concerned that someone you know may be experiencing financial abuse, it's crucial to act quickly and appropriately. Here are the steps you can take:

Step 1: Ensure Immediate Safety

Where possible, ensure the immediate safety and welfare of the adult at risk (and any other adult or child at risk). If urgent medical or police attention is required, call 999 without delay.

Step 2: Report to the Police

If you suspect someone is being financially abused, you should report it to the police. For non-urgent cases, you can call 101. If you believe a Doorstep Crime incident is in progress, you can contact West Yorkshire Trading Standards via the Citizens Advice Consumer Helpline at 0808 223 1133.

Step 3: Raise an Adult Safeguarding Concern

If you need help deciding whether to raise a safeguarding concern, consult with your local Adult Social Care team. Anyone can directly report concerns regarding actual, alleged, or suspected abuse to the Local Authority. You can visit the West Yorkshire Trading Standards website - https://www.wyjs.org.uk/trading-standards/wyfeat/typical-indicators-of-financial-abuse/ - for more information on financial abuse.

Acting quickly and thoughtfully can make all the difference in protecting someone from ongoing abuse.

How Financial Abuse Affects Families and Children

Financial abuse doesn't only impact the individual directly involved. When a parent or caregiver is financially exploited, the entire family can suffer. This can lead to:

• Neglect: Children may go without basic needs like food, clothing, or school supplies if family finances are mismanaged or stolen.
• Emotional Stress: Financial stress can create a volatile home environment, leading to emotional or even physical abuse.
• Long-term Effects: Children growing up in an environment where financial abuse occurs may struggle with trust, anxiety, and relationships in the future.

It's crucial to recognise that financial abuse can have ripple effects throughout the family and community. By supporting those affected and raising awareness, we can help break the cycle.

How to Protect Yourself and Others

If you or someone you know may be at risk of financial abuse, there are steps you can take to protect yourself and others:

1. Set Up Safeguards: Use direct debits for regular bills, limit cash withdrawals, and ensure that someone trustworthy has oversight of financial matters. For example, you can set up automatic bill payments to ensure essential expenses are covered, limit the amount of cash that can be withdrawn from an account, and appoint a trusted family member or friend as a co-signer on financial documents. Stay Informed: Learn about common scams and fraud tactics, and make sure vulnerable individuals know where to turn for help.

2. Reach Out: Talk to them if you're concerned about someone's wellbeing. Offer support and let them know they're not alone. If necessary, contact local safeguarding services.

For more information and resources, visit Safer Bradford - https://saferbradford.co.uk/ . Whether you need advice or someone to talk to, help is available.

ICON Week: 23-29 September

This week, we're also supporting ICON Week, a campaign aimed at preventing abusive head trauma in infants. ICON stands for Infant Crying is Normal, Comforting Methods Can Help, It's OK to Walk Away, and Never, Ever Shake a Baby. All parents and caregivers need to understand how to cope with infant crying safely.

Where to Find Resources on ICON

Visit the ICON Website for information, guidance, and support - https://iconcope.org/ . Let's work together to ensure every child is safe and every caregiver has the tools to cope in stressful situations.

Looking Ahead: October Awareness Days

World Mental Health Day – 10 October

Mental health is just as important as physical health, and on 10 October, we'll be highlighting ways to support mental wellbeing for children and adults. From reducing stigma to providing resources for those struggling, we'll be sharing valuable information throughout the month.

UK Anti-Slavery Day – 18 October

Modern slavery is a hidden crime that affects thousands across the UK. On 18 October, we'll be focusing on raising awareness about the signs of exploitation and how to report concerns. Together, we can make a difference and help those trapped in these situations find a way out.

Take Action: Report Concerns and Seek Help

If you suspect someone is experiencing financial abuse or any form of neglect, don't hesitate to act. You can report concerns anonymously and safely. Visit Safer Bradford or contact your local safeguarding services for advice and support. These services can provide guidance on how to recognise and report financial abuse, as well as offer assistance in protecting the victim and preventing further abuse.

Remember, safeguarding is everyone's responsibility. By staying informed and vigilant, we can help protect the most vulnerable members of our community. Your actions can make a real difference.