Abuse of position of trust

Financial decisions: Make sure you have complete confidence in anyone you entrust to make financial decisions on your behalf. Don’t be afraid to change your mind in the future.

Joint decisions: Consider granting the trust to more than one person to make joint decisions (so everyone in the position of trust has to agree on decisions together).

Suspicious behaviour: Have the confidence to challenge suspicious behaviour and monitor your bank or pension statements regularly for any unusual activity.

• You’re being pressured into making a decision by someone you’ve given a position of trust to.
• You’re being intimidated or told to keep certain dealings secret from other trustees.
• You notice something suspicious in the finances of the person who has entrusted you, such as a large purchase or bank transfer.

Friends, family members, carers or company employees may be asked to look after your personal or business finances. They may instead take advantage of their access to bank accounts or information for their own benefit, or misuse the assets of a business to embezzle funds for themselves.

If you have been given a position of trust, it is your responsibility to keep a close eye on the individual’s finances, particularly if they are vulnerable. Handle bills and statements with care and shred them before throwing them out.

If you have made a payment: Inform your bank as soon as possible, they can help you prevent any further losses. Monitor your bank statements regularly for any unusual activity.

Identity theft: If you have shared personal or financial information, and suspect your identity may have been stolen, you can check your credit file quickly and easily online. You should do this every few months anyway, using a reputable service provider and follow up on any unexpected or suspicious results. You can also sign up for Cifas services which can help to protect you against fraud.

You could be targeted again: Fraudsters sometimes re-establish contact with previous victims claiming that they can help them recover lost money, this is just a secondary scam. Hang up on any callers that claim they can get your money back.

Legal advice: In many cases of fraud there is a close correlation between what may be considered fraud and the civil tort of deceit and/or breach of contract, for which there are civil litigation options. We would always advise that you seek professional legal advice or contact Citizens Advice to understand your options.

Report it to us online or call 0300 123 2040. For more advice and to raise any concerns, contact the Office of the Public Guardian.