Investment scam, …elderly parent

badger09

zenshi said:

His BT account is already linked to mine, he’s happy with that.

We go through his bank accounts once a month when I see him to address any issues. He gives me his iPad and I can log in to his back myself, he’s happy with that. Having his bank account on my iPad, I think will be step too far at the mo

The CIFAS protection, I read the link and doubt he’ll go for that. He gets frustrated waiting. One instance, he wanted to transfer some money to my for Xmas and it was flagged as an unusual amount and blocked. He had to ring the following day to sort it, well I had to talk to them with his permission but he was very annoyed, even though I said it was just extra protection for him

i agree with this totally!

 People often find it more comfortable to believe that the scam is genuine than the alternative that they are vulnerable and fell for it

A protective CIFAS registration wouldn’t affect his day to day banking transactions & wouldn’t have prevented this scam. What it would do, is make it more difficult for scammers to use personal info he has given them, to open accounts, credit cards, apply for loans etc using those details. 

BooJewels

It's a delicate situation and you'll know your Dad better than anyone and will need to gauge his reaction over time and respond accordingly - offering how ever much support he actually wants and needs. It sounds like you're already offering regular support of that type.

Two of the times I was an active Attorney, they were totally different from each other.  With one, I had to stage a slightly brutal intervention and just take over their affairs as they'd just stopped caring, hadn't opened mail for months, had let things like house insurance lapse and were regularly taken in by these "press 1 to be connected to customer service" phone scams, which resulted in a few premium number phone calls - which seem rather tame now compared to a lot that is happening.

In the other, she'd lost a lot of money in a very sophisticated and long-game 'courier scam' and when she realised she'd been had, asked me to take over as she clearly couldn't be trusted.  It totally destroyed her confidence, in all respects, not just financial.  We sort of split the difference on that and I registered the LPA with her bank and had on-line access to her account and my own debit card, but only used either when she specifically asked.  She was perfectly fine to manage her own affairs, but seemed more comfortable knowing she had me as back up.