Beware frauds who may try to take over your financial affairs - and sell your house!
'You and Yours' is just airing a programme about a truly terrifying case, in which a stranger managed to obtain a valid lasting power of attorney entitling them to manage the financial affairs of someone who didn't know them at all (!) and tried using it to sell a house owned by that other person.
An astute conveyancing solicitor, instructed by the supposed attorney, asked for additional proof of the supposed attorney's alleged relationship to the real owner, which stopped that particular attempt - but they may not have been the only conveyancer who was approached to act.
Apparently the fraud began with a Freedom of Information request to identify empty properties in that borough area.
The programme warns that properties held in one person's sole name, with no mortgage, are particularly vulnerable to this fraud. Since it's not been possible to retrieve the valid LPoA document from the fraudster and cancel it, the victim's entire financial affairs may also be targeted as well.
https://www.bbc.co.uk/programmes/m0012scr
An astute conveyancing solicitor, instructed by the supposed attorney, asked for additional proof of the supposed attorney's alleged relationship to the real owner, which stopped that particular attempt - but they may not have been the only conveyancer who was approached to act.
Apparently the fraud began with a Freedom of Information request to identify empty properties in that borough area.
The programme warns that properties held in one person's sole name, with no mortgage, are particularly vulnerable to this fraud. Since it's not been possible to retrieve the valid LPoA document from the fraudster and cancel it, the victim's entire financial affairs may also be targeted as well.
https://www.bbc.co.uk/programmes/m0012scr
