Understanding and Responding to Financial Abuse in Older Adults

Your wellbeing comes first

If you ever feel unsafe or in immediate danger, please call 000 straight away.

If you’d like to talk to someone confidentially, 1800RESPECT is available 24/7 on 1800 737 732 or by text on 0458 737 732. They offer free, independent support and can arrange interpreters if needed.

For older Australians experiencing financial abuse, Seniors Rights Service can provide advice and advocacy. Call 1800 424 079 or visit the Seniors Rights Service website.

You’re not alone — help is here when you need it.

Financial abuse is a serious form of elder abuse that can have lasting impacts on older people’s wellbeing, independence, and dignity. We are committed to recognising the signs, responding with care, and helping protect our older members from harm.

What is elder financial abuse?

Elder financial abuse involves the misuse or theft of an older person’s money, assets, or financial decision-making. It often occurs in relationships built on trust, such as with:

  • Family members
  • Caregivers
  • Appointed representatives (e.g. Power of Attorney).

It can take many forms, including:

  • Abuse of trust – when someone acts against the older person’s interests for personal gain
  • Conflicts of interest – when a representative fails to act in the older person’s best interests
  • Pressure or manipulation – leading to decisions that don’t reflect the older person’s true wishes.

Why older adults may be more vulnerable

Some older people face extra challenges that make them more at risk, such as:

  • Relying on others for daily support
  • Limited digital literacy
  • Language barriers
  • Cognitive or physical impairments.

Recognising the signs

Elder financial abuse can be difficult to detect. Warning signs may include:

  • Unusual financial activity
  • Confusion about financial decisions
  • Unexplained loss of funds
  • A third party dominating financial conversations or decisions.

Understanding these signs and the dynamics of trust and vulnerability is key to early intervention.

Risk factors and barriers to speaking up

Financial abuse can affect any older person, but some are at greater risk due to:

  • Dependence on others for banking, bill payments, or insurance
  • Limited digital or financial literacy
  • Language or cultural barriers
  • Cognitive decline or physical limitations.

Some older people may also face additional challenges due to intersecting forms of disadvantage, including:

  • Cultural or linguistic diversity
  • Living with disability
  • LGBTIQA+ identity
  • First Nations heritage.

Why it’s hard to speak up:

  • Not knowing where to get help
  • Loyalty to the person causing harm
  • Shame or embarrassment
  • Cognitive impairment or confusion
  • Fear of retaliation or being placed in care

We are committed to helping

We play a vital role in identifying and responding to financial abuse. When warning signs are present, we’ll prioritise the older person’s autonomy and wellbeing.

We are committed to:

  • Making reasonable inquiries when financial activity seems unusual
  • Engaging privately with the older person, especially if a third party is involved
  • Reviewing account details and authorised operators before processing transactions
  • Verifying Power of Attorney arrangements and confirming authority
  • Exploring support options, including trusted family or specialist services
  • Following internal procedures, escalating concerns, and delaying transactions if needed
  • Providing clear, accessible information about support services
  • Documenting all interactions and conversations in our systems.


You’re not alone. If you or someone you know may be experiencing elder financial abuse, please reach out. Visit one of our branches or call us on 131 728 to speak with a team member who can help.