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

This report presents the findings of a survey conducted by HCR Law, aimed at investigating the prevalence and impact of financial abuse affecting older and vulnerable adults in England and Wales, including those with limited mental capacity.

As specialists in advising and protecting older and more vulnerable people through our dedicated Older and Vulnerable Persons (OVP) team, we are acutely aware of the disproportionate risks faced by this group. All too often, these individuals are overlooked and undervalued, treated as ‘second class citizens’ without the means to advocate for themselves. Financial abuse, frequently carried out in private by trusted relatives, carers, or associates, is driven by opportunism, greed, and a troubling sense of entitlement. This form of abuse remains significantly under-reported, allowing the misconception to persist that this is not a widespread or urgent issue.

However, the evidence shows that the problem is both growing and deeply systemic. Without meaningful intervention, we risk normalising a society in which vulnerable individuals are left defenceless, perpetrators face few consequences, and the public ultimately bears the financial burden – both through depleted care resources and the cost of safeguarding failures.

This report highlights serious shortcomings across a network of organisations and sectors and calls upon professionals in legal, financial, medical, and social care sectors, as well as regulatory and governmental bodies, to recognise their collective responsibility. Identifying, reporting, and acting upon suspected abuse must become a standard, shared practice.

Above all, this report is a call to action. It urges cross-sector collaboration, greater investment in prevention, and legislative reform to strengthen enforcement and recovery mechanisms. The protection of vulnerable people cannot remain a peripheral concern – it must be a central priority for a just and responsible society