Economic Abuse

Economic abuse is where someone in a position of trust interferes in an older person’s ability to acquire, use or maintain their finances.

For example:

• An abuser might exploit an older person by making demands for large transfers.

• An abuser might control an older person's access to financial resources by refusing to let them access a bank account.

• An abuser might sabotage an older person's ability to maintain financial security by building up debt in their name. 

What are the signs of Economic Abuse/harm?

• Signatures on cheques and documents that do not resemble the older person’s signature, or signed when the older person cannot write.

• Sudden changes in bank accounts, including unexplained withdrawals of large sums of money by a person accompanying the older person.

• The inclusion of additional names on an older person’s bank account.

• Abrupt changes to or the sudden establishment of wills.

• The sudden appearance of previously absent relatives claiming their rights to an older person’s affairs or possessions.

• Someone moving into an older person’s house and living rent free, without agreement or under duress. 

• The unexplained sudden transfer of assets to a family member or someone outside the family.

• Misuse of power of attorney, deputyship, appointeeship or other legal authority. 

• Numerous unpaid bills, or overdue rent, when someone else is supposed to be paying the bills.

• Lack of amenities, such as TV, personal grooming items, appropriate clothing, that the older person should be able to afford.

• The unexplained disappearance of funds or valuable possessions such as art, silverware, or jewellery.

• Deliberate isolation of an older person from friends and family, resulting in the caregiver alone having total control.