HCR Law has released a new report uncovering the growing scale and complexity of financial abuse affecting older and vulnerable adults across England and Wales — with findings that carry particular significance for professional deputies responsible for managing the financial affairs of clients lacking capacity.

The Report on the Prevalence of Financial Abuse of Older and Vulnerable Adults in England and Wales draws on insight from professionals across legal, healthcare, safeguarding, banking and social care sectors. Its conclusions confirm what many deputies see daily: financial abuse is widespread, increasingly sophisticated, and often facilitated by systemic shortcomings.

For deputies who shoulder statutory duties of care, oversight and accountability, this report underscores both the heightened risks facing clients and the urgent need for stronger cross-sector collaboration.

Financial Abuse Is Rising — and Becoming Harder to Detect

The report reveals that 71% of professionals encountered at least one case of financial abuse in the past year, with the majority believing the problem has worsened over the past five years.

Of particular concern to deputies is the kind of abuse most frequently identified:

• Unexplained or excessive withdrawals
• Transfers of funds to third parties
• Running up debts in the victim’s name
• Restricting access to financial information
• Unauthorised changes to wills or legal arrangements

These patterns demonstrate that financial abuse rarely appears as a single, isolated act. Instead, it frequently manifests as a gradual erosion of financial autonomy, often concealed within everyday caregiving relationships or family dynamics.

Misuse of Powers of Attorney and Digital Access at the Forefront

As court-appointed deputies know well, technology and legal authority have become central to both facilitating and enabling abuse. The report highlights:

• 25% of respondents had witnessed misuse of LPAs
• 30.8% encountered online account manipulation
• Digital control of bank accounts was the single most common tactic

For deputies, these findings reinforce the need for proactive financial monitoring, secure digital governance, and early intervention when family members or informal carers are involved in day-to-day transactions.

The report also reflects frustrations shared by many deputies: difficulties in demonstrating misuse of authority due to poor record-keeping, lack of mandatory training for lay attorneys, and delayed investigations.

Systemic Gaps Are Leaving Vulnerable Clients Exposed

Despite frequent reporting to safeguarding teams, banks, the police, and the Office of the Public Guardian, the outcome statistics are stark:

• Only 11.3% of professionals were satisfied with case outcomes
• Only 6.5% believe satisfactory outcomes occur frequently
• Significant numbers took “no action” due to confusion, evidential barriers, or lack of confidence in the system

For deputies, these figures mirror the operational challenges of navigating a fragmented safeguarding landscape — where responsibilities are shared across agencies but accountability is often unclear.

The report includes powerful testimony from the Professional Deputies Forum, which highlights the disparity between the oversight expected of professional deputies and the limited training or support available to lay attorneys. Their message aligns closely with the experiences of deputies nationwide: standards are not consistent, safeguards are insufficient, and vulnerable clients are too often put at risk.

A Strong Mandate for Reform — and a Role for Professional Deputies

The call for change from the professionals surveyed was emphatic:

• 83% want stronger legal protections
• 80.5% support enhanced monitoring and oversight
• 52.7% want stronger powers for the Office of the Public Guardian
• 66.3% want improved enforcement requiring perpetrators to return misused funds
• 84% believe public and professional education must be significantly improved

These recommendations align closely with the priorities of deputies who routinely manage complex financial arrangements on behalf of clients lacking capacity.

Professional deputies are uniquely positioned to:

• Identify early warning signs
• Challenge inappropriate access to funds
• Model best practice record-keeping and transparency
• Collaborate with safeguarding partners
• Advocate for reforms to LPA processes, digital security, and OPG oversight
• Support families in understanding the responsibilities of financial decision-making

The report reflects the sector’s increasing recognition of deputies’ vital role in stabilising finances, preventing exploitation, and ensuring decisions are made lawfully, ethically, and in the client’s best interests.

As Tonina Ashby notes in her foreword:

“Financial abuse remains significantly under-reported and too often overlooked. Without meaningful intervention, we risk normalising a society in which vulnerable individuals are left defenceless and perpetrators face few consequences.”

Download the Full Report

Deputies, safeguarding teams, and financial professionals are encouraged to read the full findings:

Report on the Prevalence of Financial Abuse of Older and Vulnerable Adults in England and Wales