Financial and material abuse

Financial abuse is when someone takes advantage of another person's finances. It can include theft, fraud, internet scamming, or coercion related to the person's financial affairs. It can also include the misuse or misappropriation of property, possessions, or benefits (Care Act 2014).

The most common victims of financial abuse

Financial abuse can happen to anyone, but it is especially common among older people and people with disabilities. This is because these groups of people may be more vulnerable to financial exploitation. 

The most common abusers

It is often those people who the elderly trust the most who are usually the perpetrators of financial abuse, such as a family member or a friend. Unfortunately, the elderly or vulnerable are also often targeted for scams.

Commonly, financial abuse occurs in the adult’s own home or a care home. Abusers can often have drug, alcohol, relationship, financial or gambling problems.