The Money Carer Foundation Warns of Higher Levels of Financial Abuse in 2012

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Harder financial times in 2012 will make vulnerable adults more prone to financial abuse from con artists and scammers according to The Money Carer Foundation

Higher unemployment and a harder financial climate will make vulnerable adults such as older people with dementia more likely to be financially abused next year.

Recent research undertaken by the Alzheimers Society has reported that 15% of dementia sufferers have been subjected to financial abuse via cold calling or email scams. The figure could rise substantially as the deteriorating economic climate starts to bite in 2012.

The Money Carer Foundation, a social enterprise that provides daily money management services to protect vulnerable adults, adds that the problem of financial abuse is not restricted to older people alone.

"many of our clients who have learning disabilities or mental health or substance misuse problems have been victims of financial abuse" says Sean Tyrer its Chief Executive. "Often it is an instance of financial abuse from a family member or carer that has led to the individual being referred to our organisation from the local authority"

The Money Carer Foundation provides financial protection to via its daily money management service where the organisation acts as a persons Appointee, Court of Protection Deputy or Attorney depending on the level of intervention required along with other safeguarding measures that may be required.

"Our role is to provide a secure money management service for our clients as well as supporting their 'circle of care' with the work that we do. This may mean that we provide carers with one of our bespoke expense cards so that they do not need to handle the cash of our clients or by removing the need for social workers to get involved with money matters that take up a lot of time for them"

With the reality of 2012 bringing tougher financial times for many people The Money Carer Foundation say that common sense measures to help safeguard vulnerable adults from predatory con artists and scammers can be of practical help. The organisation stresses the importance of placing vulnerable adults on the Priority Services Registrars (PSR) operated by utility companies as well as registering vulnerable people with the Telephone Preference Service (TPS)

For more information about The Money Carer Foundation visit their website at

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Sean Tyrer
The Money Carer Foundation
(019) 282-8828 x0
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