Older people are being warned about the rise in a devastating type of fraud that can be committed by someone they know and trust. New figures from the City of London Police show that people aged 70 and over lost more than £51million to fraud by abuse of position during the 2025/26 financial year. The crime occurs when someone uses a position of responsibility, authority, or trust to gain access to another person’s money, assets, or property without lawful authority.
Those responsible can be people close to the victim, including family members, friends and carers. A total of 3,812 reports of fraud by abuse of position were recorded during the year, with reported losses across all age groups reaching £93.8million. Those aged between 80 and 89 were particularly badly affected, suffering both the highest number of reports and the greatest financial losses of any age group. Almost £24million was reportedly stolen from victims in this age bracket.
Detective Superintendent Oliver Little, from the lead force operations room at the City of London Police, said: “These offences can have a devastating impact because they are committed by people who have been trusted to act in the victim’s best interests.
“The fact that people aged 70 or over had more than £51million stolen highlights the significant threat this fraud poses to older and sometimes more vulnerable members of our communities. We want families, carers and those responsible for managing another person’s affairs to know the warning signs and report concerns, so we can better protect those at risk.”
Police analysis found that many cases involved relatives or close friends getting access to someone’s finances.
Methods included stealing bank cards, obtaining banking details, or making unauthorised transfers from accounts they could access through regular contact with the victim.
There were also 764 reports involving the misuse of powers of attorney, resulting in losses of £34.6million.
Another 444 reports involved social care workers allegedly abusing their position, with reported losses totalling £13.3million.
In some cases, police said offending continued after a victim had died, with relatives allegedly manipulating wills or other legal documents to gain control of estates, property and financial assets.
Police said offenders can take advantage of people at particularly vulnerable moments in their lives, including during periods of ill health, cognitive decline and bereavement.
Dementia was referenced in 337 reports during the year, while victims were described as vulnerable in 359 reports.
Mark Evans, Law Society of England and Wales president, said: “The impact of fraud extends far beyond financial loss, especially when it is carried out by those who are trusted by the victim.
“We are proud to support the City of London Police’s campaign to raise awareness of fraud by Abuse of Position and encourage people to watch for warning signs and act quickly if something feels wrong.
“Together we can maintain a level playing field for our community by staying aware and reporting any concerns.”
The City of London Police is now urging people who support elderly relatives, manage someone’s affairs under a power of attorney, administer estates or work in the care sector to look out for possible signs of financial abuse.
Warning signs can include unpaid bills, possessions going missing and unexpected changes to someone’s bank account or will.
People are also advised to regularly check financial statements for transactions that have not been authorised.
Anyone who notices suspicious transactions should contact the relevant bank or card provider as soon as possible.
People can also raise safeguarding concerns with their local authority’s adult social care team.
Concerns about a solicitor or deputy potentially misusing their role can be reported to the Office of the Public Guardian.
Fraud by abuse of position can be reported to Report Fraud online or by calling 0300 123 2040.
