CH222-Safeguarding People at Risk of Financial Abuse Policy

Registration Number: {{org_field_registration_no}}

Safeguarding People at Risk of Financial Abuse Policy

1. Purpose

The purpose of this policy is to outline how {{org_field_name}} prevents, identifies, and responds to the risk of financial abuse affecting individuals receiving care in their own homes. This policy ensures that people we support are protected from exploitation, theft, coercion, or mismanagement of their finances and assets, in line with Regulation 13 (Safeguarding from Abuse and Improper Treatment) and the principles of the Care Act 2014.

2. Scope

This policy applies to all staff, contractors, volunteers, and others working on behalf of {{org_field_name}} who may come into contact with individuals’ money, possessions, or financial information during the course of providing care. It also applies to agency workers and third-party services acting under our instruction or in partnership.

3. Related Policies

CH07-Person-Centred Care Policy
CH13-Safeguarding Adults from Abuse and Improper Treatment Policy
CH18-Risk Management and Assessment Policy
CH29-Whistleblowing (Speaking Up) Policy
CH34-Confidentiality and Data Protection (GDPR)-Service User Policy
CH41-Managing Service User Finances Policy

4. Policy Statement

{{org_field_name}} is committed to upholding the rights, dignity, and financial security of all individuals in our care. Financial abuse can include theft, fraud, misuse of funds or property, coercion in relation to wills or financial decisions, or denying access to funds. We operate a zero-tolerance approach and work proactively to safeguard individuals from such risks. Our procedures support the principles of the Care Act 2014, including empowerment, protection, prevention, proportionality, partnership, and accountability.

5. Recognising Financial Abuse

Staff are trained to identify signs of financial abuse, which may include: unexplained lack of money or possessions; unpaid bills or missed payments; sudden changes in financial documents; anxiety when finances are mentioned; reports of missing belongings; or unusual interest from others in the person’s finances. Staff are instructed never to ignore or dismiss concerns, and all suspicions must be reported.

6. Prevention Measures

a. Professional Boundaries
Staff must not: borrow money from or lend money to individuals; accept gifts or tips without explicit authorisation; involve themselves in an individual’s financial decisions; become a beneficiary in a will; or act as a witness to legal or financial documents. These boundaries are reinforced through induction, training, and supervision.

b. Support with Shopping or Petty Cash
Where shopping or financial transactions are part of a care plan, staff must follow the CH41-Managing Service User Finances Policy. Receipts must be kept for all purchases, records must be maintained, and transactions must be signed off by both the staff member and the individual (or representative). Use of cash or bank cards must be pre-approved, with safeguards in place.

c. Access to Financial Information
Staff must not access bank statements, PIN numbers, online banking, or financial accounts unless this has been formally authorised in the care plan and supported by a best interest decision (if capacity is lacking). All access must be documented, and staff must only act within their job role and authorisation.

d. Recruitment and Supervision
All staff are vetted through enhanced DBS checks and references before employment. Financial safeguarding forms part of staff supervision, appraisals, and team meetings. Where concerns about conduct arise, these are investigated promptly and transparently.

7. Responding to Financial Abuse

a. Reporting Concerns
Any suspicion or allegation of financial abuse must be reported immediately to the Registered Manager {{org_field_registered_manager_first_name}} {{org_field_registered_manager_last_name}} and the Safeguarding Lead {{org_field_safeguarding_lead_name}}, {{org_field_safeguarding_lead_role}}. Concerns must be recorded factually and submitted through our internal incident reporting system.

b. Safeguarding Procedures
On receipt of a financial abuse concern, a safeguarding referral will be made to the local authority {{org_field_local_authority_authority_name}} in line with adult safeguarding protocols. The individual’s safety and wellbeing are prioritised, and measures are taken to prevent further harm. Families, advocates, or the police may be involved depending on the severity and nature of the concern.

c. Confidentiality and Support
All reports are handled with strict confidentiality. The individual affected will be supported emotionally and practically throughout the investigation process. Advocacy services will be offered where appropriate to ensure the individual’s voice is heard.

8. Training and Awareness

All staff receive safeguarding and financial abuse training at induction and through annual refresher programmes. Training covers definitions, signs, reporting procedures, and maintaining professional boundaries. Staff are also trained on GDPR and information handling to ensure financial data is protected.

9. Audit and Oversight

Financial safeguarding forms part of our internal quality audits and governance reviews. Any incidents or themes are analysed to identify risks and improve controls. The Nominated Individual {{org_field_nominated_individual_first_name}} {{org_field_nominated_individual_last_name}} oversees financial safeguarding compliance and reports annually to the board or responsible governance body.

10. Roles and Responsibilities

All staff are responsible for recognising and reporting financial abuse. Managers are responsible for investigating concerns, liaising with safeguarding authorities, and supporting individuals through any necessary actions. The Registered Manager ensures that systems are in place for monitoring and oversight, and that this policy is embedded in daily practice.

10. Policy Review

This policy will be reviewed annually or earlier if changes in safeguarding legislation, CQC guidance, or best practices occur. All staff will be informed of updates and provided with refresher training as necessary.

Responsible Person: {{org_field_registered_manager_first_name}} {{org_field_registered_manager_last_name}}
Reviewed on: {{last_update_date}}
Next Review Date: {{next_review_date}}
Copyright © {{current_year}} – {{org_field_name}}. All rights reserved.