A 72-year-old man with dementia had his Central Provident Fund (CPF) account emptied after becoming romantically involved with a woman he met online.
Here’s what happened.
Family Discovers Financial Losses After Online Romance
According to Lianhe Zaobao, Huang Xiuqing (name transliterated from Mandarin), a 79-year-old retiree, called the Lianhe Zaobao hotline to report that her brother mentioned meeting a young, attractive Taiwanese woman during Chinese New Year.
The pair had reportedly met at a local hotel and affectionately called each other “dear.”
Shortly after, Huang discovered that her brother, who typically received a fixed monthly rental income of $1,250, was disappearing after collecting rent and began borrowing money from others.
The family also found that his CPF account, which previously held over $10,000 in savings, had been emptied in March. Further investigation revealed ten Google Play gift cards in his home, strengthening suspicions that he had been scammed.
Huang explained that her brother was diagnosed with dementia early this year and often speaks incoherently. “When we questioned him, he refused to say whether he gave money to the woman and wouldn’t mention when they met,” she said.
She also discovered that the lock on her brother’s mailbox had been changed.
Her brother told her he recently met a wealthy person and planned to go to the bank with them to withdraw money. “We suspect he’s been scammed, but he can’t express himself clearly, making it difficult for us to intervene. I considered hiring a private investigator, but the cost was too high.”
Huang and her family faced administrative hurdles when trying to check her brother’s bank records and CPF account or report to the police.
Combined with her brother’s unclear speech, the family couldn’t determine his exact losses or the details of the scam, leaving them helpless as his money was drained.
Legal Measures to Protect Dementia Patients’ Financial Interests
Currently, one in ten Singaporeans aged 60 and above has dementia. The Ministry of Health predicted in 2021 that by 2030, the number of dementia patients is expected to increase to 152,000. As scam cases continue to rise, protecting patients’ rights has become a key concern for caregivers.
The Director of Community Mental Health at FILOS Community Services suggests that family members can plan ahead by establishing a Lasting Power of Attorney (LPA). In cases where mental capacity is lost, family members can handle the grantor’s financial and personal welfare matters, including bank accounts, medical affairs, CPF accounts, and HDB properties.
The Advocacy and Communications Manager at Dementia Singapore told Lianhe Zaobao that caregivers should watch for warning signs such as unusual financial transactions, sudden financial losses, distress over financial issues, or abnormally secretive behavior.
Caregivers should also notify relevant financial institutions to implement additional protective measures, such as transaction notifications or withdrawal limits.
The public can refer to the DementiaHub.SG website for more information.
The website includes information on actions that can be taken if a family member didn’t establish an LPA before losing mental capacity. Friends and relatives wanting to protect the patient’s interests can apply to the court to become a deputy, as well as apply to establish a special needs trust to protect the dementia patient’s financial resources.
Here's a summary of the Chocolate Finance saga, simplified so even a non-finance kid can understand:
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