The most common form of elder abuse, financial abuse, is defined as any improper conduct, done with or without the informed consent of the senior that results in a monetary or personal gain to the abuser and/or monetary or personal loss for the older adult.
In the experience of Elder Abuse Prevention Ontario, most financial abuse is perpetrated by family members.
Elder Abuse – Financial Abuse of Seniors
How Do I Recognize Financial abuse?
- Misusing a senior’s property and/or funds, Power of Attorney
- Theft, forgery
- Sharing the senior’s home without paying a fair share of the expenses.
- Unexplained disappearance of personal belongings, such as clothes or jewellery
- Unduly pressuring a senior to:
- Move from, sell, or relinquish his or her home or other personal property
- Sign legal documents that they do not fully understand
- Give money to relatives or caregivers
- Unexplained or sudden withdrawal of money from accounts or ATM withdrawals
- Suspicious or forged signatures on cheques or other documents
- The senior is not receiving bank statements
- Transfer or withdrawal of funds without prior permission
- Denial to access or control finances such as credit cards, cheques
- Notice of eviction or discontinuation of utilities
- Older adult is unable to pay bills, buy food or pay rent
- Standard of living not in keeping with the senior’s income or assets
- The older person’s home is unexpectedly sold
- Power of Attorney refuses to consider moving an older adult to Long-Term Care or Retirement Home in order to gain or retain access to their finances