The Senior
ELDER abuse is often thought of as something that happens to someone else, yet experts warn it is far more common than many Australians realise, affecting an estimated one in six older people.
While physical abuse often receives the most attention, psychological and financial abuse are among the most prevalent forms experienced by older Australians.
With cost-of-living pressures continuing to bite and many families facing financial strain, experts say financial abuse is becoming an increasingly significant concern.
Dr Rebecca Edwards, co-chair of Elder Abuse Action Australia, said financial pressures within families could sometimes create circumstances where older Australians become vulnerable.
“With people living longer into their 90s, adult children can feel resentful, particularly if they are in a difficult financial situation themselves,” Dr Edwards said. “Any form of financial stress means it is more likely to happen.”
Financial abuse can take many forms, ranging from small but unauthorised purchases made using an older person’s credit card or money taken from a wallet without permission through to large withdrawals from bank accounts, the misuse of powers of attorney, or the sale of assets and property without proper consent.
Dr Edwards said one of the most common stories she often heard involved older Australians being denied access to their own financial information.
Housing arrangements can also create opportunities for financial abuse with it becoming increasingly common for older Australians to contribute substantial amounts of money towards building a granny flat or moving onto a family member’s property.
While many of these arrangements work well, problems can arise when relationships break down and the older person discovers they have no legal ownership or protection despite their financial contribution.
Perhaps most importantly, Dr Edwards said families need to have open and honest conversations.
