Six in 10 Australians are worried that someone they know will be the victim of elder abuse.
Increased house prices and reasonable superannuation balances can mean that some older people are in a good financial position, which can lead to family members feeling a sense of entitlement (also known as “inheritance impatience”).
Exact elder financial abuse numbers are difficult to come by – but numbers will increase as the population ages. By 2055 Australia’s population is expected to grow to 40 million, 25% of whom will be over 65.
This webpage outlines a set of guidelines for the banking and financial industry to help better recognise, report, and stamp out elder financial abuse.