Older People’s Commissioner: Protect Wales’ elderly from financial abuse, fraud and scams

The Older People’s Commissioner for Wales is leading an important initiative to protect older citizens from financial abuse, fraud, and scams.

By engaging directly with the elderly community, the Commissioner seeks to find the best ways to increase awareness of these risks.

Heléna Herklots, the Older People’s Commissioner for Wales, emphasised: “It’s crucial we do everything possible to guard older people against financial abuse, fraud, and scams.”

“Older individuals are especially vulnerable to financial abuse. This can mean theft of money or property, being cheated, pressured about finances or property, or misuse of their assets.”

Working with key partners, including the Wales Against Scams Partnership and local police, the initiative aims to produce and share new, effective information and resources.

Older people are frequently the targets of various frauds and scams. These include sophisticated tactics like impersonating banks or government bodies via phone, email, text, and online scams.

The effects of financial abuse, fraud, and scams on the elderly can be profound: beyond financial loss, victims often suffer from depression, social withdrawal, and a decline in physical and mental health.

Recognising signs of financial abuse, fraud, and scams, and knowing where to seek help, allows everyone to contribute to the protection of older people.

Signs of potential financial abuse, fraud, or scams include:

Unusual Financial Activity: Sudden changes in spending, unexplained transactions or withdrawals, unpaid bills, or missing valuables could signal abuse or fraud.

Unsolicited calls and emails: A rise in such contacts may mean someone is being targeted by criminals.

Reluctance to discuss finances or seek help: Hesitation to talk about financial matters or seek help may indicate involvement in a scam.

Unexplained gifts or purchases: Gifts or purchases appearing after sending money to unknown entities might suggest exploitation.

Changes in risk-taking: A noticeable shift in a person’s approach to financial risks can be a warning sign.

Other risk factors include digital exclusion, diminished capacity, social isolation, and a tendency to trust easily.

Heléna Herklots advises: “If you see any of these signs or suspect an older person is at risk, offering sensitive, non-judgmental support can make a big difference.”

“This might mean helping them report an incident, improving their security, or learning about common frauds and scams,” the Commissioner concluded.

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