Financial Elder Abuse

Financial Elder Abuse

Financial elder abuse is the misuse or theft of an older person's money or assets, which can include pressuring them into giving money or property, misusing power of attorney, stealing goods, or using their bank accounts without permission. It is often done through coercion, deception, or manipulation, and can be identified through warning signs like unexplained financial problems or unusual changes to wills. 

Examples of Financial Elder Abuse

• Theft and asset misuse: Taking money from a wallet or bank account, or using property, goods, or credit cards without authorization.
• Financial deception: Misleading an older adult into signing documents related to loans, property, or wills they don’t fully understand.
• Abuse of authority: Exploiting a trusted role—such as power of attorney—to handle finances for personal benefit.
• Manipulation and coercion: Influencing an older person to hand over money, alter their will, or make financial choices against their will.
• Financial neglect: Blocking access to an older person’s own funds or failing to contribute to shared household expenses after moving in.

Warning Signs of Financial Elder Abuse

• Missing belongings or funds without explanation
• Difficulty paying bills or accessing financial accounts
• Large withdrawals or unusual changes to a will that don’t align with past behavior
• Lack of food or accumulation of unpaid bills despite sufficient finances
• Living conditions that appear inconsistent with known financial means

Elder Abuse Support Services

As well as contacting Bank Orange the following support services are available:

National Elder Abuse Support Services (Australia)
• 1800 ELDERHelp (1800 353 374)
Free national phone line that connects callers to the appropriate elder abuse service in their state or territory.

• Healthdirect Australia
Information on types of elder abuse and how to get help.
Website: https://www.healthdirect.gov.au/elder-abuse

State-Based Services
• Better Place Australia – Elder Abuse Support Service
Offers older person-centred support including conflict resolution and prevention.
Phone: 1800 214 117
Email: respectingelders@betterplace.com.au
Website

• Services Australia – Elder Safety Resources
Guidance on staying safe from financial and emotional abuse.
Website

• myGov – Supporting Someone Affected by Elder Abuse
Advice on recognizing signs and helping someone experiencing abuse.
Website