16 September 2024
A vulnerable person might be considered as someone, in the case of an adult, who is over 18 years of age unable to shield themselves from harm or exploitation due to various reasons such as illness, age, disability, or mental impairment, are at a higher risk of falling victim to fraud. Fraudsters are adept at targeting vulnerable people, jeopardising their life savings with just a click of a button. A detailed definition of a vulnerable adult can be found in Section 2 of The Police Act 1997 (Enhanced Criminal Record Certificates) (Protection of Vulnerable Adults) Regulations 2002.
Take Proactive Measures Against Fraud: To safeguard vulnerable individuals from fraud, there are several proactive measures that can be taken:
Encouraging them to grant a Lasting Power of Attorney is a fundamental step that enables a trusted individual to manage their finances and intervene in case of suspicious activities. For more information, please contact our experienced Power of Attorney team.
Register with CIFAS
Registering with The Credit Industry Fraud Avoidance System (CIFAS), a non-profit organisation managing a database of fraudulent activities in the UK, can provide additional protection by flagging their personal details to alert organisations conducting extra checks on any transactions associated with their name. The organisation offers a protective registration service to people who fear their identity documents may have been stolen. The registration costs £30 for two years.
Vulnerable Victims Notifications
The collaboration between law enforcement and financial service providers through the Vulnerable Victims Notifications (VVN) initiative can enhance protective measures for vulnerable customers by reducing the risk of fraud. Educating vulnerable individuals about different types of scams, including phone, doorstep, and investment scams, is essential to equip them with knowledge and awareness to recognise and avoid fraudulent schemes.
How can you help vulnerable people to protect themselves?
Assisting vulnerable people in protecting themselves from fraud involves addressing the urgency and pressure often exerted by fraudsters during a scam. Emphasising the importance of taking a step back, not divulging sensitive information, and disconnecting from suspicious calls or requests for software installations can prevent potential fraud attempts.
Age UK has taken that to heart and has provided information and advice on the steps you might take if you are worried about scams. Vulnerable people should be directed towards this information as it might just save them falling foul of the fraudsters.
Additionally, advising vulnerable individuals to verify the authenticity of calls by contacting their bank using a trusted number and reporting any suspected fraud immediately to the relevant authorities can mitigate the impact of fraudulent activities.
Maintaining regular contact and communication with vulnerable individuals is crucial to prevent isolation and raise awareness about the risks of fraud. Whether it is through family visits, discussions with friends, or sharing information about scam prevention measures, staying connected and vigilant can offer vital support in safeguarding vulnerable individuals from falling prey to fraudsters.
By implementing these protective measures and fostering a supportive environment, vulnerable people can be better prepared to identify and thwart fraudulent schemes, ensuring their financial security and well-being.
