People with dementia are “sitting ducks” for financial abuse, argues report

28th October 2022

People with dementia are being “let down” by both retailers and the financial services industry within the high street, with new research suggesting a review of the Lasting Power of Attorney (LPA) process is one of several changes that could aid the longevity and independence of people with dementia.

During a year-long research and innovation project, the International Longevity Centre (ILC) interviewed people with dementia and their carers, and also organised focus groups and innovation workshops with business professionals representing high street chains, the financial services industry, and the transport sector.

The report also called for a review of the LPA process which will help people with dementia enjoy their money more, while dealing with the risk of financial abuse. The government and NHS should work together with dementia experts to identify effective ways to “nudge” people towards setting up an LPA, said the ILC.