Understanding Financial Abuse: Protecting Seniors' Financial Well-being
Financial abuse, a form of elder abuse, occurs when someone unlawfully takes or misuses an older person's money, assets, or property without consent. Often coupled with other types of abuse like social isolation, financial abuse can leave seniors feeling powerless and stressed, impacting their quality of life and basic needs like food and housing.
In many cases, older adults rely on family or trusted individuals to manage their finances, making them vulnerable to exploitation if excluded from decision-making. Perpetrators of financial abuse may employ various tactics, from covertly using a senior's funds to coercing them into signing legal documents. These actions erode the older person's autonomy and control over their resources.
Examples of financial abuse include unauthorised use of funds, threats or coercion for money, and selling property without permission. Such actions strip seniors of their independence and security, leaving them financially compromised.
If you or someone you know is experiencing financial hardship or suspected abuse, please reach out. Let's stand against financial abuse and protect our seniors' financial dignity and security.
Seniors Rights Victoria
1300 368 821
10AM – 5PM Monday to Friday
