What is financial elder abuse?
Financial elder abuse is theft or misuse of an older person’s money, assets or property. It can take many forms, some of which are listed below.
Withdrawing money without permission
Selling an older person’s home without consent
Not repaying loans or not contributing to household expenses
Pressured into giving or loaning money, possessions or property
Misusing Powers of Attorney
Pressured to make or change your Will
Going grocery shopping and keeping the change
Taking advantage of the sharing of resources within families and communities
According to recent Australian research 2% of older people reported experiencing this form of abuse in the last 12 months.1
Preventing Financial Abuse
Discover more about how it happens and what you can do to prevent and respond to this type of abuse.More information
Protecting Yourself from Financial Abuse
Discover nine steps you can take to protect yourself from financial abuse.More information
The National Elder Abuse Prevalence Study highlighted that the most common form of financial abuse reported by older Australians was ‘being pressured into giving or loaning money, possessions or property (41.5%).2 Behaviour amounting to theft was reported by just over a third (34%) of those who reported financial abuse.3 Almost as common (31.4% was failing to provide financial contributions or assistance (e.g. rent, food aged care/home service fees) as previously agreed.4