Financial or Material Abuse

This form of abuse is rarely spoken about, and financial and material abuse has similarities to identity theft. There are cases where a person’s bank cards have been abused when details are entrusted to a caregiver, but there are also cases where entire estates have been lost via a power of attorney.

The elderly are often the main victims of this kind of abuse, but that is not to say younger people are not equally vulnerable. It often takes place where there is an unequal balance of power. Other examples include internet scamming, coercion in relation to an adult’s financial affairs or arrangements, including in connection with wills, property, inheritance or financial transactions, or the misuse or misappropriation of property, possessions or benefits.

Signs of financial or material abuse might include:

• Unexplained withdrawals from the bank
• Unusual activity in the bank accounts
• Unpaid bills
• Unexplained shortage of money
• Unexplained or sudden changes to Wills
• The person with responsibility for the funds is reluctant to provide basic food and clothes etc. or is evasive or non-responsive
• Loss of personal items such as jewellery
• Unusual interest shown by family or others in the person’s assets
• Purchase of items that the person does not require or use

In the short term the victim of financial or material abuse may have the stress of paying bills and not having adequate means to pay, incurring interest and fees on charges, and creating a spiral of debt. In the longer term this will impact on their credit score, savings, and in turn their ability to access alternative safe accommodation. The emotional impact of this type of abuse should not be overlooked: feelings of disempowerment, financial pressures, loss of trust in people and loss of faith in their own judgement.