Economic Abuse Awareness

 

50% of all respondents were concerned (either somewhat or very) about themselves being a victim of economic abuse by someone in a position of trust.

 

A relative majority (40.6%) of respondents were worried about an older person who they knew or cared for being a victim of economic abuse by someone in a position of trust.

 

Those aged between 45-54 were the age group to be most concerned about themselves being a victim (30.31%), but also the age group most concerned about an older person they knew or cared for being a victim (40.59%).

 

Those aged between 65-70 were the age group to be most unconcerned about themselves being a victim (54.40%), but also the age group most unconcerned about an older person they knew or cared for being a victim (31.27%).

The area of the UK that showed the most concern at their own risk at being a victim of economic abuse by someone in a position of trust was Greater London with 36.86% of respondents from that area indicating concern (either somewhat or very).

 

Northern Ireland was the area of the UK that was most worried about an older person who they knew or cared for being a victim of economic abuse by someone in a position of trust. 55.7% of Northern Ireland respondents indicated concern (either somewhat or very).

 

14.1% of respondents indicated that an older person they knew/cared for had been a victim of financial abuse in the past year. 33.80% of these victims were denoted as “parent” and 24.30% were denoted as a “friend.”

 

26.78% of respondents indicated that an older person they knew/cared for had been the victim of an online scam to access their finances in the past year. 43.97% of these victims were denoted as “parent” and 21.34% were denoted as a “friend”.

 

86.29% of respondents agreed (either “strongly agreed” or “agreed”) to the statement that “some older people are more vulnerable to financial abuse/scams because they don’t have the skills and knowledge to manage their finances online and keep themselves safe”.

 

86.44% of respondents agreed (either “strongly agreed” or “agreed”) to the statement that “older people need to be more protected from financial abuse”.

 

83.21% of respondents agreed (either “strongly agreed” or “agreed”) to the statement that “as more and more of our finances move online, more and more older people are going to be at risk of “financial abuse/scams”.

 

94.39% of respondents thought that it was important (either “very” or “quite”) that financial services providers do more to help keep older people safe from financial abuse/scamming online.