Vulnerable people are increasingly exposed to sophisticated online frauds where they risk losing all their life savings at the click of a mouse or tap of a screen.
Criminals are persistently pushing the boundaries to make gains illegally. Cases of fraud, especially online fraud, have been increasing every year.
Online fraud is not the only problem vulnerable people face. “Traditional” doorstep scams still happen which prey on householders and not just those who are vulnerable.
Who is considered a vulnerable person?
A vulnerable person might be considered as someone, in the case of an adult, who is over 18 years of age and is unable to protect themselves from abuse, harm or exploitation. There may be several reasons for this, such as illness, age, mental illness, disability or other types of mental or physical impairment. 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.
Can anything be done to protect vulnerable people?
There are many options available to the vulnerable individual to help protect them from fraud.
A Lasting Power of Attorney
Providing someone has capacity, a vulnerable person can make a Lasting Power of Attorney. This enables a person they choose and trust to look after their finances for them. This means their attorney can intercept fraudsters and prevent the vulnerable person from sending them money.
Register with CIFAS
The Credit Industry Fraud Avoidance System (CIFAS) is a not-for-profit organisation that manages a database of fraudulent activities in the UK. 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.
Once registered, CIFAS places a warning flag against your name and other personal details in their National Fraud Database. This alerts organisations that use CIFAS data to pay special attention when your details are used. These organisations will carry out extra checks to ensure it is you and not a fraudster trying to access your accounts or seeking to make purchases.
Vulnerable Victims Notifications
The Vulnerable Victims Notifications (VVN) initiative is a collaboration between law enforcement and financial service providers. The police can notify financial service providers of any customer vulnerabilities which might make them susceptible to fraud. Once a notification is received, the financial institution applies protective measures to their customers’ accounts to reduce the risk of fraud.
Take protective measures against different types of scams
There are many scams out there from phone and cold calling scams through to doorsteps scams to investment scams. Attempts at fraud appear to be limitless as these can even extend to dating or pet scams!
Age UK has provided information and advice on the steps you can take if you are concerned about scams. Vulnerable people should consider this information as it may assist them if they happen to cross paths with fraudsters.
How can you help a vulnerable person against a fraudster?
When a fraud is being perpetrated, there is an element of urgency by the fraudster. You can explain to the vulnerable person that if there is any urgency to step back, take a breath and think about what they are being asked to do.
Fraudsters tend to pressure their victims to act quickly. They may ask their victims to install software on their phone or computer which they claim will enable them to help you. Take the time to explain to a vulnerable person that their bank or financial institution will never do either of these things.
It is important to explain to the vulnerable person that if they do feel hurried, pressured or invited to install software on their devices, they should hang up or disconnect immediately.
You can also explain to the vulnerable person:
- That the police or their bank will never ask them to transfer money to a “safe” account. They will not ask for your full PIN, password or passcode. They recommend if someone asks you to do any of these things to hang up;
- If you are unsure whether a call is genuine, hang up and call your bank using a trusted number. Do not use any number given out by the caller;
- Always take your time and do not be rushed into giving out information or making any payment;
- If you have given out your information and think you’ve been a victim of fraud or scam, inform your bank or other financial institution immediately.
Taking some of these steps may prevent a fraudster from being successful.
What if the vulnerable person is isolated?
If you know someone is vulnerable and on their own, do what you can to keep in touch. If it’s a family member, speak to others in the family and make arrangements to visit the vulnerable relative regularly. When the opportunity arises, discuss the harms fraudsters cause to individuals they have targeted. Talk about measures they might take to try to prevent this from happening.
If it’s a friend, speak to their family and other friends about this and look to take steps to help protect them from scams and fraud. You can even reach out to their local authority if you are unsure if they have anyone to check in with them.
In most cases, the vulnerable person has the final say and, by then, the fraudster might have been successful. Prevention is better than the cure. Sadly, scammers and fraudsters do not care who they defraud so everyone, including a vulnerable people, should be alert when asked to deal with any financial situation.
