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Taken from within

How do you deal with the problem of fraud when the threat doesn't come from a stranger, but a member of your own family, asks Sofia Tayton

19 August 2015

KPMG have published their 'fraud barometer' and for those of us who deal with older and more vulnerable clients, it makes for uncomfortable reading. It states: 'Fraud on families by one of their own grew by 384 per cent compared to the same period last year. Elderly relatives were some of the main victims, and had £1.7m stolen from them by younger members of the family.'

People are living longer, which means their young relatives are dipping in to what they view as their 'inheritance', before it in fact becomes that. The reported cases are likely to be the tip of the iceberg, as this sort of fraud often goes unreported.

Imaginative fraud

It was often the case in matters where I was appointed as a panel deputy, that a family member had redirected funds to themselves in some way. Some were subtle: money would be taken a...

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