Financial Abuse of Older People
Take action against financial abuse of older people. Explore the collaborative initiative bringing together financial services and community organisations.
Summary
In a significant initiative to support older Australians, the Australian Human Rights Commission is leading the Financial Elder Abuse Action Collaborative Project to take tangible actions to prevent and respond to financial elder abuse.
Funded by the Commonwealth Attorney-General’s Department, the Commission will work with key stakeholders to raise awareness of financial elder abuse and drive practical reforms that strengthen protections for older people and uphold their rights, in line with the National Plan to End the Abuse and Mistreatment of Older People 2026–2036.
Representatives from the financial services industry, community sector and government will work together to improve the prevention and response to the financial abuse of older people.
The project builds on the work of the Financial Elder Abuse Project which was led by the Australian Human Rights Commission from 2024 – 2026.
What is financial elder abuse?
Financial elder abuse is the misuse or theft of an older person's money or assets. It can cover a broad spectrum of behaviours, sometimes described as existing ‘in the grey area between thoughtless actions and outright theft.
Financial elder abuse can include using an older person’s money without permission, misuse or abuse of Enduring Powers of Attorney, or selling or transferring property against a person’s wishes.
Older people experiencing financial abuse often face other forms of abuse at the same time, including coercive control and psychological abuse.
The growing problem
Abuse and mistreatment of older people is a serious social, human rights and health problem.
1 in 6 older Australians experience elder abuse according to the 2021 National Elder Abuse Prevalence Study. With a growing ageing population, the risk and incidence of financial elder abuse is likely to increase.
Financial abuse is one of the most common forms of elder abuse, alongside psychological abuse and neglect.
There are many risk factors when it comes to financial elder abuse. These factors include:
- growing economic pressures, such as the rising cost of living, lack of affordable housing and low wage growth
- the largest intergenerational wealth transfer in history and, relatedly, ‘inheritance impatience’
- mental health issues or substance misuse
- carer stress
National Response
The National Plan to End the Abuse and Mistreatment of Older People 2026–2036 was released by the Australian Government in March 2026.
The Age Discrimination Commissioner has welcomed the new National Plan’s human rights-based approach and focus on addressing the urgent issue of financial elder abuse, see Media Statement.
The Commission’s work
The Commission’s work to establish a Financial Elder Abuse Action Collaborative began in late 2024 with financial support from the Commonwealth Attorney General's Department.
The Financial Elder Abuse Project brought together representatives from the banking, superannuation, and financial services sectors, legal and regulatory bodies and peak community organisations to prevent and respond to financial elder abuse.
The Project has involved:
- Development of a cross-sector stakeholder list of sector representatives from the banking, finance, advocacy, community, government and regulatory agencies.
- A Financial Elder Abuse Survey to inform and facilitate conversations to explore how to drive action to address financial elder abuse.
- Four financial elder abuse roundtables with key stakeholders which considered what is working well, where the gaps are, and how the sectors can work better to strengthen financial safety for older Australians.
- An Online Forum co-hosted with Elder Abuse Action Australia (EAAA) in 2025, called Stronger Together: Taking Action on Financial Elder Abuse, which shared actions being taken by the financial services industry to address financial elder abuse.
- Ongoing advocacy and consultations with key stakeholders from across the sectors and Government.
Following the conclusion of the Project in April 2026, the Commission received funding from the Commonwealth Attorney-General’s Department to continue its important work in the Financial Elder Abuse Action Collaborative Project.
Help is available
If you are concerned about elder abuse and need information, call the National Elder Abuse phone line on 1800 353 374.
