The Care Act 2014 describes ‘financial abuse’ as a type of abuse which includes having money or other property stolen, being defrauded, being put under pressure in relation to money or other property and having money or other property misused.
Practical tips to keep safe from financial abuse
When someone takes or uses your money or belongings without your permission, it is known as financial abuse.
- Knowing how to keep your money safe, as well as your belongings, is very important.
- Seeking help to look after your money and belongings can be a good idea if you’re finding it difficult.
- Knowing what to do if you think you have been financially abused is a good idea.
Know as much as you can about your own money
- Learn how banks work and what they can do to keep your money safe.
- Keep track of money that is in your wallet or bank account.
- Monitor wages, benefits or other money that you should be getting.
Getting help with your money
- Manage as much of your money yourself as you can, but always get help if you need it.
- Have more than one person help you with your money so they can check on each other’s activities.
- Ask the bank for help if you are struggling with money or numbers.
Keep safe and do not be tricked by other people
- Be sceptical. If something seems too good to be true, it probably is.
- If you haven’t got it, don’t spend it! Make sure you know how you can pay for what you spend.
- Say no to texts, phone calls or people at the door who ask you to sign things.
- Talk to someone you trust if you are worried about the security of your money or belongings.