A 95-year-old blind and dementia-stricken grandmother was left with just six pence after her entire life savings of £100,770 were withdrawn from her Halifax bank account, sparking outrage and family turmoil.
Shock Discovery of Vanished Funds
In April 2021, Frances Connolly moved back into her marital home with her middle daughter Sheila, after previously living with her eldest daughter, Pat Kavanagh.
That same month:
• Frances withdrew her life savings from the Yorkshire Building Society
• The money was deposited into a newly opened Halifax account, allegedly set up by Sheila
• Frances signed a document granting Sheila access to her finances, despite her severe dementia and visual impairment
Within just three months, Frances’ account was completely drained, leaving her with only £31.
Suspicious Bank Transactions Uncovered
Bank statements revealed:
•£80,000 transferred to Frances’ husband’s account just six days after the new Halifax account was created
• £10,000 transferred to Sheila’s account on April 29
• Daily ATM withdrawals of up to £900, across Liverpool City Centre, Maghull, and Allerton
By July 22, 2021, Frances was left with just six pence in her purse, as she returned to Pat’s home with no access to money or even her pension.
Halifax and Ombudsman Refuse to Take Action
Despite complaints, both Halifax and the Financial Ombudsman Service ruled that the bank had acted appropriately, as Frances had given formal authorisation to Sheila to manage her finances.
A Halifax spokesperson stated:
“When Mrs Connolly came into the branch, our staff did not have any concerns about her ability to authorise the payments on her account.”
They confirmed that due diligence was followed, including:
•A ‘high-value checklist’ for large transactions
• Reviewing recent account activity
• Asking the customer questions about the withdrawals
Family Devastated as Investigation Ends After Sheila’s Death
Pat alerted Merseyside Police about the suspected financial abuse, but the investigation was halted after Sheila died in October 2024.
Making matters worse, after Frances’ estranged husband Richard died in February 2025, Pat discovered that his bank account had also been emptied, despite once holding £185,000 from the sale of a property.
She said:
“I feel physically sick that this has happened to both of my parents. We don’t even know what it was spent on.”
Calls for Better Protection for Vulnerable Customers
John Mather, from The Brain Charity, who is supporting the family, criticised banks for failing to protect vulnerable individuals from financial abuse.
“Elderly people are vulnerable to exploitation, but you trust the bank. If you’ve been defrauded, they deal with it. But in this case, because it was done by a family member, she loses out.”
The case highlights the growing concerns around financial exploitation of elderly and vulnerable individuals, particularly those suffering from dementia.
Pat continues to fight for answers, insisting that banks should not allow vulnerable customers to sign away their life savings without further safeguards.
