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Money Box

Financial Abuse

Money Box

BBC

Business

4.2825 Ratings

🗓️ 4 February 2021

⏱️ 34 minutes

🧾️ Download transcript

Summary

How do you recognise and bring an end to financial abuse? Maybe you’ve spotted that a relative is no longer eating properly, heating their home, or that money and jewellery has gone missing.

Or perhaps somebody close to you is taking money, trying to take control of your bank account or even suggesting you should change your will.

How do you tackle such difficult personal issues and suspicions?

Paul Lewis and guest will be here to answer your questions about protecting yourself or a loved one from financial abuse on Wednesday’s Money Box Live. Joining Paul will be:

Veronica Grey, Elder Abuse Charity, Hourglass Gary Rycroft, Solicitor & Partner, Joseph A Jones & Co Sandra McDonald, former Public Guardian for Scotland

E-mail your experiences and questions about financial abuse to moneybox@bbc.co.uk

Presenter: Paul Lewis Producer: Diane Richardson Editor: Emma Rippon

Transcript

Click on a timestamp to play from that location

0:00.0

I'm Rory Stewart and I grew up wanting to be a hero and I'm still fascinated by the ideas of heroism.

0:09.0

In my new series, I'm taking in the long sweep of history from Achilles to Zelensky and asking, what is a hero?

0:16.0

Simply doing your job, being a decent human being.

0:20.0

A true hero is someone who just kind of shines by

0:23.1

their own light and that light is to be recognized by others. The long history of heroism

0:27.7

with me, Rory Stewart. Listen on BBC Sounds. BBC Sounds, music, radio podcasts. Hello, welcome to this Moneybox Live podcast.

0:40.2

Each year, around a million older people and many vulnerable adults

0:43.7

suffer financial abuse by relatives, carers, friends, even neighbours who are close to them.

0:48.9

They may seem very kind and caring, but then they use that trust for their own ends.

0:55.5

And financial abuse occurs when money or property is stolen or misused by a once-trusted person. What starts out as

1:01.8

help with shopping or paying bills can lead to financial control, changing a will, even marriage.

1:08.1

How do other relatives spot financial abuse early? And how can they stop it?

1:12.5

Well, as usual, we have some expert panellists to answer your questions and offer advice.

1:17.1

But before we meet them, let's speak to our first caller.

1:19.9

Julian, you're calling about your parents. What happened?

1:23.2

Okay, well, this is some of years ago. My parents sadly are both now deceased.

1:29.3

But my parents had a carer who was provided by an agency, which was fine. I suppose there should have

1:35.3

been some warning bells ringing in my head when the carer then left the agency and went round

1:43.3

sort of privately approaching clients and suggesting that she

1:46.5

could do the job instead on a private basis. Now, I do blame myself to some large extent for

1:54.3

sort of not picking up on this early because I did have a power of attorney and I did have access

1:59.7

to my parents' bank account to see what was going on,

...

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