Protecting older Australians against the growing issue of financial abuse
Suzie Willis
Equity Trustees, a sponsor of the upcoming 2026 Stand Up, Speak Out Australian Elder Abuse Conference, is calling for greater awareness of the need to act early to protect older Australians from financial abuse, which has become alarmingly widespread as Australia’s population ages.
National data shows around 1 in 6 older Australians experience some form of elder abuse each year[1]. Financial abuse, where an older person has their funds improperly or illegally accessed, has become one of the most common types of elder abuse as more people rely on others to manage their affairs later in life.
“Sadly, elder abuse is often perpetrated by someone the victim knows, with around half of the cases involving family members,” said Suzie Willis, Senior Estates and Trust Solicitor at Equity Trustees, one of Australia’s oldest trustee companies.
“Financial abuse can start gradually and often goes unnoticed until significant damage has already been done. Once confidence is lost, it can be very difficult for someone to regain independence.”
Ms Willis is hosting a workshop at the Stand Up, Speak Out conference which runs from 27-29 July at the Gold Coast on practical early‑intervention and prevention strategies for safer decision‑making for older people. She says there are many risk factors, but all Australians can act early to put safeguards in place.
“Simple steps, such as appointing an enduring power of attorney and carefully selecting who will make decisions on your behalf can significantly reduce exposure to abuse,” Ms Willis said.
“It’s about more than having someone you trust. The strongest protection is when you have the right structures and oversight in place well before they are needed, including clear legal and financial arrangements.”
A professional trustee can help protect a lifetime of savings and ensure they support the beneficiary’s long-term wellbeing, independence and quality of life.
Trustees play a central role in determining how, when and why funds are released, safeguarding capital, but also funding essentials such as medical care, daily living support, housing, and social participation.
Watch for warning signs
Another key to preventing elder abuse is being able to identify the warning signs.
Social isolation is a risk factor, with people who are less connected to family, friends or their community being more vulnerable to exploitation.
Unexplained transactions, sudden changes in behaviour, new influences over decision-making, or withdrawal from regular activities should also be red flags.
Older Australian who are unhappy with the care they are receiving, or family and friends who have concerns should speak up if they feel something is wrong. These situations can raise complex social and legal issues but calling them out is essential and shows loved ones that help is at hand.
Support is available from community groups, lawyers, the police, and via the National Elder Abuse Helpline on 1800 353 374.
“Ultimately, protecting independence later in life comes down to planning early, staying connected and staying alert to the warning signs. We all have responsibility to care and advocate for older people, especially if they are unable or unwilling to speak for themselves,” Ms Willis said.
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