We’re here to help if you or a loved one is experiencing elder financial abuse
Elder Financial Abuse can happen to anyone; however, there are certain groups who are at a higher risk of being targeted. These groups can include older people who:
- Are alone or isolated
- Have a physical or mental disability
- Identify as having First Nations heritage
- Are from a migrant or refugee background
- Have a limited understanding of finance due to either language limitations or cultural barriers
- Are reliant on others for their care
- Have been subject to other types of abuse in the past
- Are from LGBTQIA+ communities
Signs of Elder Financial Abuse
Unfortunately, Elder Financial Abuse is most often perpetrated by a trusted family member, carer or friend.
While the signs can look different for everyone, some key behaviours can be:
- Playing on emotions to trick you into making decisions you wouldn’t otherwise make.
- Trying to confuse you to convince you that nothing is out of the ordinary.
- Prey on vulnerabilities to take advantage of your situation.
- Work to gain your trust and may imitate honest people or organisations through complex and convincing deceptions.
- Threaten you with a fine, disconnection of your services, arrest or even deportation.
Steps to take to protect yourself and loved ones:
| Review your statements frequently. | Keep your passwords and pins safe. If these are compromised, change them immediately. |
| Ensure your contact details are up to date. This way if your accounts become compromised, our team can reach you. | If you move, have your address changed with us. This keeps your cards, statements and any other mail that we send you safe. |
| If you believe you or a loved one has experienced elder financial abuse, you can talk to our team confidently about your situation and the steps you can take to protect yourself, and your financial position. | Review who has access to your accounts. You can add or remove any third-party to act on your behalf, including a Power of Attorney. |
| Talk to us about hardship support available to you until you are in a space that is safe. You can find more information about financial hardship here. | Reach out to our Contact Centre on 1300 314 900 |
There is support beyond banking for those who have experienced financial elder abuse, these include:
1800 ELDERHELP
Dementia Australia
Legal Aid Queensland
National Debt Helpline
Aged Care Quality & Safety Commission
ScamWatch
eSafety Commissioner
This information is general in nature and has been prepared without taking your personal objectives, circumstances and needs into account. You should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.