Fabian Hamilton

With the increase in dementia and with Alzheimer’s projected to rise incrementally, the hon. Gentleman is right that safeguarding needs to be far tighter. I will come on to say what I think that would involve. At our meeting, several banks highlighted clear failings in safeguarding procedures and investigations by the Office of the Public Guardian. Given that the OPG will not investigate any case in which the donor is deemed to have capacity, and that it has no powers to access the financial records of attorneys, investigations are toothless at best. The banks then face a back and forth with the OPG, as both urge the other to investigate what they claim to be a “civil matter”. Banks regularly ask the OPG whether they should act on an account that is under investigation, but are told it is up to them to decide whether to do so. That begs the question: “What is the purpose of the OPG and why does it lack the powers to act?” One of the banks raised the example of a single individual to whom tens of LPAs were registered, but UK Finance was not aware, so no investigations took place until concerns were raised and a bank conducted a vulnerability check on the donor, by which time it was too late and the individual had already gathered the funds of several people. That case is sadly not an isolated incident.