Protecting vulnerable people from fraud

Criminals are forever pushing the boundaries of what’s possible to make gains illegally. Instances of fraud, especially online fraud, have been increasing year on year. Vulnerable people are more exposed to sophisticated online frauds where they stand to lose all their life savings at the click of a mouse or tap of a screen! However, it’s not simply online fraud that can be problematic for vulnerable people. There remain may “traditional” doorstep scams 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 a number of 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.

What can be done to protect vulnerable people?

There are a variety of options available to the vulnerable individual to help protect them from fraud.

A Lasting Power of Attorney

Perhaps one of the most basic levels of protection is for the vulnerable person to grant a Lasting Power of Attorney. This would allow someone they trust to look after their finances for them. That would mean should the fraudsters come calling, the attorney could intervene to 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.

Following the registration, 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. When the 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. There are even dating scams!

They say being forewarned is being forearmed. Age UK has taken that to heart and has provided information and advice on the steps you might take if you are worried about scams. Vulnerable people should be directed towards this information as it might just save them falling foul of the fraudsters.

How can you help vulnerable people to protect themselves?

When a fraud is being perpetrated, there tends to be an element of urgency by the fraudster. Always 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.

Also, fraudsters tend to bring pressure to make you act quickly. Or they may ask you to install software on your 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.

Importantly, 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 should 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 might just prevent the fraudsters from being successful.

Don’t allow vulnerable people to become isolated

If you know someone is vulnerable, do whatever 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. Whenever 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.

In many cases, the vulnerable person has the final say and, by then, the fraudster might have been successful. Prevention, as they say, is better than the cure. Unfortunately, scammers and fraudsters do not care who they defraud so everyone, not least vulnerable people, should be on their guard when asked to deal with any financial situation.