>The lasting power of attorney was introduced in 2007, but its operation is based on decades of case law. A document can give the holder access to a person’s bank accounts, investments and savings, but there are no routine fraud or identity checks. It can also be used to sell a house.
I know why it’s needed but no fraud or identity checks? Madness.
Good luck trying to sell a house or commit other frauds with this in this current climate.
Anyone concerned about things like this should register with HM land registry’s alert service. It won’t cost you anything and will notify you of any activity around the registration of your property, giving you time to deal with the fraud
*When the victim complained to the Office of the Public Guardian, she was shocked to be advised on at least two separate occasions by the government agency that the fastest way to resolve the matter would be to say that she had allowed the fraudster to take over her financial affairs, and then to ask for the lasting power of attorney to be revoked.*
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I’ve said it before, this government are feeding people to sharks: Dodgy companies and criminals.
*The annual report of the Office of the Public Guardian for 2020-21 warns of the risk that the “weakness in the current process allows the registration of a fraudulent [lasting power of attorney].” It says less than 0.1% of registrations are suspected to be fraudulent. There were more than 680,000 successful LPA applications in 2020-21.*
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So they are admitting to 680 being suspected to be fradulent in one year.
It’s not just going to be houses by the way, banks accounts and investments are under threat.
*An Office of the Public Guardian spokesperson said: “Abuse of lasting power of attorney is extremely rare but we intend to introduce more safeguards against fraud and misuse.”*
I’ve been a multiple POA/deputy for loved ones over a period of years.
We set up the POA through a reputable solicitors, very straight forward (but thorough enough)
Deputyship on the other hand.. think it was 2 years back/forth with the court of protection because it was a very complicated/unique case.
Needless to say, absolutely thorough it was like a paperwork version of a colonoscopy.
As it should be, these are vulnerable persons.
My gut tells me that 9 times out of 10 somewhere in the chain of events leading to a transfer of property someone (be it solicitor, estate agent, etc) has failed to pay due diligence or worse yet actually been complicit in it.. it would not be the first time we have seen this sort of fraud occur in that manner.
Cheers for this, signed up and mentioned to my mates also!
It’s such a struggle to get a house in the first place that I’m surprised people aren’t physically defending themselves
9 comments
>The lasting power of attorney was introduced in 2007, but its operation is based on decades of case law. A document can give the holder access to a person’s bank accounts, investments and savings, but there are no routine fraud or identity checks. It can also be used to sell a house.
I know why it’s needed but no fraud or identity checks? Madness.
Good luck trying to sell a house or commit other frauds with this in this current climate.
Anyone concerned about things like this should register with HM land registry’s alert service. It won’t cost you anything and will notify you of any activity around the registration of your property, giving you time to deal with the fraud
https://www.gov.uk/guidance/property-alert
*When the victim complained to the Office of the Public Guardian, she was shocked to be advised on at least two separate occasions by the government agency that the fastest way to resolve the matter would be to say that she had allowed the fraudster to take over her financial affairs, and then to ask for the lasting power of attorney to be revoked.*
****
I’ve said it before, this government are feeding people to sharks: Dodgy companies and criminals.
*The annual report of the Office of the Public Guardian for 2020-21 warns of the risk that the “weakness in the current process allows the registration of a fraudulent [lasting power of attorney].” It says less than 0.1% of registrations are suspected to be fraudulent. There were more than 680,000 successful LPA applications in 2020-21.*
****
So they are admitting to 680 being suspected to be fradulent in one year.
It’s not just going to be houses by the way, banks accounts and investments are under threat.
*An Office of the Public Guardian spokesperson said: “Abuse of lasting power of attorney is extremely rare but we intend to introduce more safeguards against fraud and misuse.”*
I’ve been a multiple POA/deputy for loved ones over a period of years.
We set up the POA through a reputable solicitors, very straight forward (but thorough enough)
Deputyship on the other hand.. think it was 2 years back/forth with the court of protection because it was a very complicated/unique case.
Needless to say, absolutely thorough it was like a paperwork version of a colonoscopy.
As it should be, these are vulnerable persons.
My gut tells me that 9 times out of 10 somewhere in the chain of events leading to a transfer of property someone (be it solicitor, estate agent, etc) has failed to pay due diligence or worse yet actually been complicit in it.. it would not be the first time we have seen this sort of fraud occur in that manner.
Cheers for this, signed up and mentioned to my mates also!
It’s such a struggle to get a house in the first place that I’m surprised people aren’t physically defending themselves
Stealing someone’s home and possessions?
Sounds like a quick way to meet Jesus.