CNA938 Rewind - Guarding senior finances: New guidelines to prevent financial abuse by loved ones

Banks in Singapore, led by the Association of Banks in Singapore together with major banking institutions, are developing industry guidelines to protect elderly clients from financial abuse by trusted family members. The move is in response to growing awareness of under-reported cases where seniors are exploited by those close to them, often in subtle ways. How common are financial abuse cases and how can seniors safeguard themselves against such abuse? Andrea Heng and Hairianto Diman find out from Goh Qian Hui, Community Law Advocate, Pro Bono SG