This story makes somewhat depressing reading, Elderly people are the victims of "financial abuse" often by people in their own family, supposedly there to take care of them...
BBC NEWS | Business | Financial abuse of elderly 'huge'
Perhaps we shouldn't be surprised at this occurring. I think in many cases what is viewed as stealing here, may be viewed by the family as "well, it is going to be my money anyway..." I am not saying that is right, of course it isn't, but unless their is explicit permission from the owner of the money to have access to the cash, then it is looked upon as stealing. However, if by law, you have been appointed a guarantor on someone's account because they are ill, or mentally unable to deal with these things, surely that puts you in charge of their cash? No doubt there are laws in place to stop fraudulent activity, but is there a point at which your using this cash becomes fraudulent? I'd like to think it is when you use this money for your own needs without permission, but I fear that the law in this area may well be very muddied, which has probably exacerbated this kind of cynical exploitation.
BBC NEWS | Business | Financial abuse of elderly 'huge'
Perhaps we shouldn't be surprised at this occurring. I think in many cases what is viewed as stealing here, may be viewed by the family as "well, it is going to be my money anyway..." I am not saying that is right, of course it isn't, but unless their is explicit permission from the owner of the money to have access to the cash, then it is looked upon as stealing. However, if by law, you have been appointed a guarantor on someone's account because they are ill, or mentally unable to deal with these things, surely that puts you in charge of their cash? No doubt there are laws in place to stop fraudulent activity, but is there a point at which your using this cash becomes fraudulent? I'd like to think it is when you use this money for your own needs without permission, but I fear that the law in this area may well be very muddied, which has probably exacerbated this kind of cynical exploitation.