Financial Abuse of Older People
Explore the Action Collaborative that brings together financial services and community organisations to ensure the financial safety and security of older people
Summary
In a significant initiative to support older Australians, the Australian Human Rights Commission is leading the Financial Elder Abuse Action Collaborative (Action Collaborative) to promote and support tangible actions to prevent and respond to the financial abuse of older people.
Funded by the Commonwealth Attorney-General’s Department, the Commission will work with key stakeholders to raise awareness of financial abuse of older people 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 abuse of older people?
Financial abuse of older people 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 abuse of older people 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
With new funding from the Commonwealth Attorney General's Department, the Commission is providing support to an Action Collaborative, established to ensure structures, systems, services and financial products empower older people to be financially safe and secure.
The Action Collaborative consists of 26 members from across the banking, superannuation, financial services, legal, community and government sectors, guided by an Agenda for Action and supported by a broader network of organisations connected to financial abuse.
In announcing the Action Collaborative, Mr Fitzgerald emphasised the importance of cross-sector collaboration and action to improve the prevention, identification and response to the financial abuse of older people, see Media Statement.
The Commission’s work to establish the Action Collaborative builds on the Financial Elder Abuse Project (2024-26).
Key actions achieved through the Financial Elder Abuse Project included:
- Delivery of a Financial Elder Abuse Survey and four roundtables to inform and facilitate conversations about how to drive action to address financial elder abuse.
- 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.
Support the work of the Action Collaborative
Join the network. If you would like to support the work of the Action Collaborative and participate in a broader network please email us at financialelderabuse@humanrights.gov.au
Help is available
If you are concerned about elder abuse and need information, call the National Elder Abuse phone line on 1800 353 374.
