Short changed: protecting people with dementia from financial abuse

Author:
CHANDARIA Karishma
Publisher:
Alzheimer's Society
Publication year:
2011
Pagination:
60p., bibliog.
Place of publication:
London

The ways in which we can manage our money is rapidly changing, and this can pose serious challenges for people living with dementia. People with dementia and their families may need support to manage their money and stay safe from financial abuse. Alzheimer's Society undertook the largest ever survey carried out on this subject, and analysed responses from 104 carers and 47 people with dementia - as well as focus groups and interviews with professionals - to find out more about this issue. The report reveals that 15% of people living with dementia - an estimated 112,500 people - have been victims of financial abuse such as cold calling, scam mail or mis-selling. 62% of carers reported that the person they care for had been approached by cold callers or doorstep sales people, and 70% reported that telephone callers routinely targeted the person they care for. Not only have people lost money, but they and their families have also been suffering stress, exhaustion and frustration as a result. The report also highlights the challenges people with dementia can face when managing their money. 76% of people reported having trouble managing their money, with a range of issues highlighted such as the challenges of bank's security procedures, and a lack of dementia awareness in banks and other financial services organisations. The report calls for improved community support services for people with dementia to help them manage their money.

Subject terms:
older people, crime, dementia, financial abuse, financial management;
Content type:
research
Location(s):
England, Wales
Link:
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