Criminals are cashing in - protect vulnerable loved ones with an LPA
The battle against Covid-19 rages on, but there is a new pandemic rising from the flames - a lesson in how to be more vigilant.
Long lockdowns saw Covid criminals cashing in
During March 2020, Action Fraud reported 105 Coronavirus-linked cases where victims of online scams have lost nearly £1m. We also told at the time how fraud-related incidents were appearing all over the place, from local councils and Citizens Advice reporting a 40% increase in scams, to cybercriminals attempting to sell fake items, like PPE and medications online.
An article in the Times recently claims to have recouped more than £2.5million for it’s 2,000 complaint letters from readers reporting Covid-related wrongdoings and it reminded me that we all need to be on the lookout. With increased crime comes more vigilance - and that can be difficult to do even for the most savvy among us. But, if you are elderly or vulnerable, a lot of extra care is needed.
Even the savvy are at risk
UK bank fraud nearly doubled in 2020 despite the banks putting several security methods in place. It seems scammers are using better technology to evade banking systems - but it still relies on the individual handing over sensitive information in the first place. I applaud those organisations doing everything they can to prevent fraudulent transactions taking place, but scams are becoming so clever many of us fall for them without realising - and if you are an attorney acting on behalf of someone else, you need to be extra vigilant.
Adopting an LPA is so important
Things like a Lasting Power of Attorney (LPA) could help protect a vulnerable loved one from bank fraud. An LPA can prevent an individual from acting without getting someone else involved. If another person is responsible for finances, it offers a further layer of protection.
If you are currently acting as an Attorney, remember to be careful, as crime is on the rise, and be on your guard - as now is more important than ever.
If you would like more information about LPAs or writing a will, contact the Private Client team at Downs Solicitors to see how we can help.