How to protect a vulnerable loved one from financial abuse
Whether it’s an elderly parent, a relative with learning disabilities or a friend going through a difficult time, vulnerable adults can be at risk of exploitation.
Financial abuse is more common than most of us realise, and it often comes not from strangers, but from people already in a position of trust. Knowing what to look for and what support is available can make a real difference.
1. Know the warning signs
Obvious red flags include irregular purchases showing up in statements and withdrawals that your loved one does not recognise. But even if you don’t have access to bank statements, there are other indicators.
You may notice changes in your loved one’s circumstances – the heating is off despite cold weather, or there’s a sudden decline in how they’re turned out or the state of their home.
Another sign that someone could be being targeted is that you find them harder to get hold of, or they no longer sound the same in their communications. This might be due to a sense of shame or a low mood, or because the abuser is trying to isolate the victim.
2. Keep access to money separate from practical help
If your loved one does not live close by, they may rely on a neighbour or friend to help with errands such as shopping, collecting prescriptions or topping up a prepay energy meter.
They might be happy to hand over their bank card and PIN to a trusted helper, but it’s actually against bank rules and will mean a loss of fraud protection.
Instead, if your loved one is digitally confident, you might support them in setting up grocery or pharmacy deliveries, or direct payments to regular suppliers.
If they are not comfortable online, consider safer alternatives such as a prepaid card loaded with a fixed amount the helper can use for specific errands, standing orders for regular bills or a formal arrangement with their bank (see below).
3. Have honest conversations early
If you’re worried about your loved one, raise the issue with them sooner rather than later. These conversations can feel uncomfortable, but when they come from genuine concern, they are often welcomed.
Avoid accusations or being judgemental. If someone feels ashamed, they are less likely to be open. Instead, let them know you’ve noticed changes, that you’re on their side and, if necessary, that there are people outside the immediate situation they can talk to.
4. Involve a professional or neutral third party
A financial adviser, a solicitor or a representative from an organisation like Age UK can play an important role here. For any significant financial decision – particularly property transfers or changes to power of attorney – independent advice from someone with no stake in the outcome is not only a financial safeguard, but can also avoid fractures in family relationships.
5. Understand the protections available
Most UK banks have systems to support vulnerable customers, whether the need is temporary, such as during a hospital stay, or long-term.
Depending on the circumstances, a Lasting Power of Attorney for property and financial affairs can provide structured protection. It does not have to mean handing over full control – it can be arranged so that more than one person is required to authorise major decisions.
Finally, in trying to protect someone you care about, be careful not to undermine their independence. Safeguards should always be transparent, agreed and focused on helping your loved one retain control of their life for as long as they are capable.
15 April 2026