As we journey through life, we envision our later years as a time filled with joy, love, and peace. However, it's essential to acknowledge the sad reality that as we grow older, there is a heightened vulnerability to forms of abuse, including financial abuse.

With World Elder Abuse Awareness Day observed last June 15, it's a timely reminder to be vigilant and learn to spot the signs of financial elder abuse.

National Seniors Australia's Chief Advocate, Ian Henschke, highlights that as we age, we might unknowingly become more vulnerable to abuse, often from those we least suspect—family members or friends.

World Elder Abuse Awareness Day is observed on June 15th every year to raise awareness about the prevalence of elder abuse and promote the importance of preventing and addressing this issue globally. Image by Pixabay from Pexels

'Elder abuse can take many forms, but financial abuse is the most common. 85 per cent of elder financial abuse is committed by family, with children accounting for nearly 50 per cent.' said Mr. Henschke.

Unlike scams by strangers, financial abuse can involve people in positions of trust coercing or forcing seniors to sign over assets, change their Will or Power of Attorney, or even outright stealing money and credit cards.

It's a shocking truth that older people can fall victim because they never expect their loved ones to take advantage of them, feel powerless to stop it, or are too embarrassed to seek help or go to the police.

Back in 2019, National Seniors made a submission to the Federal Attorney General, recommending consistent and strengthened Enduring Power of Attorney laws to protect against abuse.

Shield your financial well-being! Equip yourself with the knowledge to identify the red flags of elder financial abuse today. Image from Shutterstock

Mr. Henschke expressed disappointment that little progress has been made since then.

He stated, 'This hasn't happened, and the issue was raised recently by Age Discrimination Commissioner Dr. Kay Patterson AO, who expressed frustration that action hadn't been taken sooner.'

Additionally, National Seniors is advocating for the implementation of the National Plan to Respond to the Abuse of Older Australians.

'Financial loss in later life is particularly devastating. Unfortunately, people don't always seek help, and identifying abuse can be hard. It can go unreported as it happens behind closed doors, by people in positions of trust.' Mr Henschke said.

Signs of Financial Elder Abuse:​

Here are some telling indicators that you or a loved one may be experiencing financial elder abuse:

• Large, unexplained bank withdrawals or transfers between accounts
• Missing personal belongings or rent, suspicious changes to a Will or Power of Attorney
• The older person signing documents they don't fully understand
• Bank statements being redirected to the suspected perpetrator

If you're worried about elder abuse, either for yourself or someone you know, don't hesitate to seek support. Reach out to the Elder Abuse phone line at 1800 ELDERHELP (1800 353 374) for free, confidential assistance.

Key Takeaways

• Financial elder abuse is the most common form of elder abuse, with 85 per cent committed by family members.
• National Seniors Australia raised awareness of the signs of financial elder abuse ahead of World Elder Abuse Awareness Day last June 15.
• Possible signs of financial elder abuse include large bank withdrawals, missing belongings, and changes to a Will or Power of Attorney.
• Support is available for those experiencing elder abuse or suspecting it, by calling the Elder Abuse phone line on 1800 353 374.

Let's use take the opportunity to have open, honest conversations about this vital issue and ensure that everyone’s golden years remain filled with laughter and love rather than exploitation and pain.

Members, what actions do you think should be taken to raise awareness about financial elder abuse and prevent it from happening in our communities?

 

[VickieCheryl]

I

As we journey through life, we envision our later years as a time filled with joy, love, and peace. However, it's essential to acknowledge the sad reality that as we grow older, there is a heightened vulnerability to forms of abuse, including financial abuse.

With World Elder Abuse Awareness Day observed last June 15, it's a timely reminder to be vigilant and learn to spot the signs of financial elder abuse.

National Seniors Australia's Chief Advocate, Ian Henschke, highlights that as we age, we might unknowingly become more vulnerable to abuse, often from those we least suspect—family members or friends.

View attachment 23188

World Elder Abuse Awareness Day is observed on June 15th every year to raise awareness about the prevalence of elder abuse and promote the importance of preventing and addressing this issue globally. Image by Pixabay from Pexels

'Elder abuse can take many forms, but financial abuse is the most common. 85 per cent of elder financial abuse is committed by family, with children accounting for nearly 50 per cent.' said Mr. Henschke.

Unlike scams by strangers, financial abuse can involve people in positions of trust coercing or forcing seniors to sign over assets, change their Will or Power of Attorney, or even outright stealing money and credit cards.

It's a shocking truth that older people can fall victim because they never expect their loved ones to take advantage of them, feel powerless to stop it, or are too embarrassed to seek help or go to the police.

Back in 2019, National Seniors made a submission to the Federal Attorney General, recommending consistent and strengthened Enduring Power of Attorney laws to protect against abuse.

View attachment 23189

Shield your financial well-being! Equip yourself with the knowledge to identify the red flags of elder financial abuse today. Image from Shutterstock

Mr. Henschke expressed disappointment that little progress has been made since then.

He stated, 'This hasn't happened, and the issue was raised recently by Age Discrimination Commissioner Dr. Kay Patterson AO, who expressed frustration that action hadn't been taken sooner.'

Additionally, National Seniors is advocating for the implementation of the National Plan to Respond to the Abuse of Older Australians.

'Financial loss in later life is particularly devastating. Unfortunately, people don't always seek help, and identifying abuse can be hard. It can go unreported as it happens behind closed doors, by people in positions of trust.' Mr Henschke said.

Signs of Financial Elder Abuse:​

Here are some telling indicators that you or a loved one may be experiencing financial elder abuse:

• Large, unexplained bank withdrawals or transfers between accounts
• Missing personal belongings or rent, suspicious changes to a Will or Power of Attorney
• The older person signing documents they don't fully understand
• Bank statements being redirected to the suspected perpetrator

If you're worried about elder abuse, either for yourself or someone you know, don't hesitate to seek support. Reach out to the Elder Abuse phone line at 1800 ELDERHELP (1800 353 374) for free, confidential assistance.

Key Takeaways

• Financial elder abuse is the most common form of elder abuse, with 85 per cent committed by family members.
• National Seniors Australia raised awareness of the signs of financial elder abuse ahead of World Elder Abuse Awareness Day last June 15.
• Possible signs of financial elder abuse include large bank withdrawals, missing belongings, and changes to a Will or Power of Attorney.
• Support is available for those experiencing elder abuse or suspecting it, by calling the Elder Abuse phone line on 1800 353 374.

Let's use take the opportunity to have open, honest conversations about this vital issue and ensure that everyone’s golden years remain filled with laughter and love rather than exploitation and pain.

Members, what actions do you think should be taken to raise awareness about financial elder abuse and prevent it from happening in our communities?

ve seen this happen in my own family not by me by others it stopped when mum made me her power of attorney. But those accused me of stealing her money I could prove I hadn’t. They secretly took a solicitor in to her nursing home room even tho she had dementia and changed her will and made a new Poa I couldn’t do a thing I tried. I was able to negate the new power if attorney. Because mine was not cancelled

 

[Barbara V]

Went to a 2hr seminar on this subject,so informative included power of attorney ect. Got a really good book through COTA it's free phone number for copy is 0894720104 on line is www.cotawa.org .au

 

[Shane/#]

As we journey through life, we envision our later years as a time filled with joy, love, and peace. However, it's essential to acknowledge the sad reality that as we grow older, there is a heightened vulnerability to forms of abuse, including financial abuse.

With World Elder Abuse Awareness Day observed last June 15, it's a timely reminder to be vigilant and learn to spot the signs of financial elder abuse.

National Seniors Australia's Chief Advocate, Ian Henschke, highlights that as we age, we might unknowingly become more vulnerable to abuse, often from those we least suspect—family members or friends.

View attachment 23188

World Elder Abuse Awareness Day is observed on June 15th every year to raise awareness about the prevalence of elder abuse and promote the importance of preventing and addressing this issue globally. Image by Pixabay from Pexels

'Elder abuse can take many forms, but financial abuse is the most common. 85 per cent of elder financial abuse is committed by family, with children accounting for nearly 50 per cent.' said Mr. Henschke.

Unlike scams by strangers, financial abuse can involve people in positions of trust coercing or forcing seniors to sign over assets, change their Will or Power of Attorney, or even outright stealing money and credit cards.

It's a shocking truth that older people can fall victim because they never expect their loved ones to take advantage of them, feel powerless to stop it, or are too embarrassed to seek help or go to the police.

Back in 2019, National Seniors made a submission to the Federal Attorney General, recommending consistent and strengthened Enduring Power of Attorney laws to protect against abuse.

View attachment 23189

Shield your financial well-being! Equip yourself with the knowledge to identify the red flags of elder financial abuse today. Image from Shutterstock

Mr. Henschke expressed disappointment that little progress has been made since then.

He stated, 'This hasn't happened, and the issue was raised recently by Age Discrimination Commissioner Dr. Kay Patterson AO, who expressed frustration that action hadn't been taken sooner.'

Additionally, National Seniors is advocating for the implementation of the National Plan to Respond to the Abuse of Older Australians.

'Financial loss in later life is particularly devastating. Unfortunately, people don't always seek help, and identifying abuse can be hard. It can go unreported as it happens behind closed doors, by people in positions of trust.' Mr Henschke said.

Signs of Financial Elder Abuse:​

Here are some telling indicators that you or a loved one may be experiencing financial elder abuse:

• Large, unexplained bank withdrawals or transfers between accounts
• Missing personal belongings or rent, suspicious changes to a Will or Power of Attorney
• The older person signing documents they don't fully understand
• Bank statements being redirected to the suspected perpetrator

If you're worried about elder abuse, either for yourself or someone you know, don't hesitate to seek support. Reach out to the Elder Abuse phone line at 1800 ELDERHELP (1800 353 374) for free, confidential assistance.

Key Takeaways

• Financial elder abuse is the most common form of elder abuse, with 85 per cent committed by family members.
• National Seniors Australia raised awareness of the signs of financial elder abuse ahead of World Elder Abuse Awareness Day last June 15.
• Possible signs of financial elder abuse include large bank withdrawals, missing belongings, and changes to a Will or Power of Attorney.
• Support is available for those experiencing elder abuse or suspecting it, by calling the Elder Abuse phone line on 1800 353 374.

Let's use take the opportunity to have open, honest conversations about this vital issue and ensure that everyone’s golden years remain filled with laughter and love rather than exploitation and pain.

Members, what actions do you think should be taken to raise awareness about financial elder abuse and prevent it from happening in our communities?

Money opens up Pandora's box scumbag so called family are out there to get what they can this happened to me was my two sisters got the old girls will change and my parasite brother wouldn't pay his portion of the funeral and seen it happen to a few mate's as well arseholes is all I can say about my family my mother would have been disgusted

 

[JayEeGeeP]

I

ve seen this happen in my own family not by me by others it stopped when mum made me her power of attorney. But those accused me of stealing her money I could prove I hadn’t. They secretly took a solicitor in to her nursing home room even tho she had dementia and changed her will and made a new Poa I couldn’t do a thing I tried. I was able to negate the new power if attorney. Because mine was not cancelled

Sounds like you knew my brother.

 

[Gsr]

When I worked in aged care this was a common occurrence, family members who had power of attorney spent the money leaving their relative without even the funds for simple things like haircuts, clothes, personal items. On occasion the public trustee was called in to take over the care of clients financial needs. This is never ideal but meant that the clients money was spent on them and not stolen by the family member.