Protecting Vulnerable & Elderly People · Global
Elder Financial Abuse
Not every threat to an older person’s money comes from a stranger. Often the person taking it is someone they know and trust — which is what makes it so hard to see, and to stop.
Updated Sep 2026 · 6 min read
Someone they trust
“Let me handle your bank cards and the bills — you don’t need to check the accounts.”
Elder financial abuse is the illegal or improper use of an older person’s money, property, or assets. Unlike a one-off scam, it’s usually ongoing — and usually committed by someone close: an adult child or relative, a carer, a friend, a new partner, or someone holding power of attorney.
It’s one of the most common forms of elder abuse and one of the least reported, because shame, fear, and loyalty keep victims silent. If you’re worried about someone, knowing what it looks like — and that it isn’t their fault — is the first step to helping.
What It Looks Like
“Borrowing” that never comes back
A relative repeatedly takes money — as loans, gifts, or “I’ll pay you back” — that is never repaid, until savings are drained.
Misusing access
Someone with a bank card, joint account, or power of attorney spends the older person’s money on themselves, or moves it out of their control.
Pressure over wills and documents
An older person is pushed or tricked into changing a will, signing over property, or granting power of attorney to the wrong person.
Taking control of the money
A carer, new friend, or new partner gradually takes over the finances, isolates the person from others, and decides how “their” money is spent.
Withholding care or basics
Money, care, food, or medication is withheld unless the person pays, hands over benefits, or gives access to accounts.
Who Does It
Most often, it’s a family member — which is exactly why it’s so painful and so hidden. It can also be a paid or informal carer, a friend, a new romantic partner, or anyone who has been given access to accounts or legal authority such as power of attorney. Abusers frequently isolate the person from other family and friends, so there’s no one to notice or intervene.
Warning Signs
- Sudden or unexplained withdrawals, transfers, or new debts.
- Money, valuables, or belongings going missing.
- Changes to a will, property deed, account beneficiary, or power of attorney — especially sudden ones.
- A new person controlling the finances, “speaking for” the older person, or discouraging contact with family.
- Unpaid bills or a lower standard of living despite having enough income.
- The person seems anxious, secretive, or fearful about money, or is newly isolated from friends and family.
How to Help
- 1
Approach with care, not blame. The person may feel shame, or feel loyal to the very person harming them. Lead with love and reassurance, and listen more than you push.
- 2
Keep a quiet record of what you notice — dates, amounts, documents, and who has access — in case it’s needed later.
- 3
Add protections with their consent: ask the bank about alerts, limits, and a “trusted contact” or vulnerable-customer team, and review any power of attorney.
- 4
Get outside help. Elder-abuse helplines, adult protective / safeguarding services, and (where a crime like theft or coercion has occurred) the police can step in — often without forcing a confrontation.
- 5
Protect their dignity and independence throughout. The goal is to keep them safe and in control of their own life, not to take over.
Where to Get Help
You don’t have to handle this alone. Depending on where you live:
- US: Adult Protective Services (via the Eldercare Locator, 1-800-677-1116) and, for theft or coercion, the police.
- UK: your local council’s adult safeguarding team, and the Hourglass elder-abuse helpline.
- Australia: the Elder Abuse phone line (1800 ELDERHelp / 1800 353 374).
- Everywhere: the person’s bank — most have a vulnerable-customer team — and a solicitor for advice on wills or power of attorney. If someone is in immediate danger, contact emergency services.
Frequently Asked Questions
Is it still “abuse” if the person taking the money is family?
Yes. Financial abuse by a relative is still abuse — and often a crime. In fact, family members are the most common perpetrators, which is exactly why this is so under-reported: shame and loyalty keep it hidden.
What’s the difference between financial abuse and a scam?
A scam is usually a stranger who deceives someone once. Financial abuse is typically ongoing and committed by someone the person knows and trusts — a relative, carer, friend, or partner — often using access or authority they already have. The warning signs and the people to contact are different.
My parent won’t report their own child. What can I do?
Respect their feelings, but you can still keep them safer: add bank protections, involve the bank’s vulnerable-customer team, get advice from an elder-abuse helpline, and contact protective services if there’s serious harm — sometimes without a direct confrontation.
Someone is pressuring my parent to change their will or sign documents. What should I do?
Take it seriously. Get independent legal advice, make sure the person has the mental capacity to decide and isn’t being coerced, and contact safeguarding / adult protective services or the police if there’s pressure or deception.
How do I protect a parent from this while respecting their independence?
Build in transparency, not control: account alerts, a trusted second set of eyes (with their consent), a reviewed power of attorney, and — importantly — keeping them socially connected, since isolation is what enables abuse. Do it with them, not to them.
Related: protecting elderly parents from scams, how to talk to someone being harmed, or the safety setup checklist.
Informational only — not legal, financial, or care advice. Sources: the WHO and the US National Center on Elder Abuse, adult protective / safeguarding services, and elder-abuse charities such as Hourglass. If someone is in immediate danger, contact local emergency services.