Vulnerability
Vulnerable customers are individuals who, due to personal circumstances, are especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care. These circumstances might include:
- Physical and mental health issues: Conditions that affect decision-making capabilities or day-to-day functioning.
- Financial insecurity: Situations such as low income, debt, or recent financial loss that might make individuals more susceptible to financial harm.
- Low financial literacy: A lack of understanding about financial products and services, which makes navigating financial decisions more challenging.
- Life events: Major life changes such as bereavement, job loss, or divorce, which can temporarily impair judgment or financial stability. Valid vulnerability:
- PHYSICAL_DISABILITY - "Physical disability or impairment (such as hearing or speech loss)"
- LOW_MENTAL_CAPACITY - "Low mental capacity or cognitive disability"
- GAMBLING_ADDICTION - "Gambling addiction"
- FINANCE_MISMANAGEMENT - "Poor finance management skills"
- POOR_LITERACY - "Issues with reading or writing"
- POOR_LANGUAGE_SKILLS - "Poor language skills"
- POOR_DIGITAL_SKILLS - "Poor digital skills (limited use of or access to digital devices)"
- CARING_RESPONSIBILITIES - "Caring responsibilities or bereavement (incl. operating a Power of Attorney)"
- FRAUDULENT_LOCATION - "From locations with higher fraudulent activity"
string
Possible values: [PHYSICAL_DISABILITY
, LOW_MENTAL_CAPACITY
, GAMBLING_ADDICTION
, FINANCE_MISMANAGEMENT
, POOR_LITERACY
, POOR_LANGUAGE_SKILLS
, POOR_DIGITAL_SKILLS
, CARING_RESPONSIBILITIES
, FRAUDULENT_LOCATION
]