Recovery of monies for the elderly lost through fraud

Kimberley McGhie, Senior Associate Commercial & Civil Dispute Resolution | August 15, 2022

Unfortunately, we are seeing more and more cases where elderly persons have lost monies through fraud. The elderly are often targeted because they are vulnerable and reliant on others to help them, so people are given access to their finances and assets. Sadly the culprit is often a trusted family member or friend who has taken advantage of the situation.

The fraud can occur in many different ways. A signature may be forged on documents such as a cheque or on a Will. Fraud by an Attorney appointed to assist the vulnerable person with their finances. If the Attorney abuses their position of power to make financial gain then there are a number of remedies to this breach of trust.

Ultimately, it can lead to the vulnerable person losing a substantial amount of money which could affect their standard of living and future care.

Victims often do not realise the fraud has taken place and it usually only comes to light after the elderly person has passed away, when previous transactions are scrutinised in the administration of their estate.

Hourglass is the UK’s only charity focused on the abuse and neglect of the elderly. They offer a 24/7 free helpline on 0808 808 8141, and we would encourage anyone that needs help to reach out to them.

Alternatively, if urgent legal action is needed, we offer a fixed fee advice session in which we will set out your options. If you would like our advice, please contact the Contentious Probate Department at Anthony Gold on 020 7940 4000.

Please note

The information on the Anthony Gold website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. It is provided without any representations or warranties, expressed or implied.