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Financial Abuse and Elder Financial Abuse

Support for financial abuse and elder financial abuse

If you’re experiencing financial or elder abuse, we’re here to help with Extra Care support that’s tailored to your situation.

We’re here to help you

If you're experiencing financial or elder abuse, or family and domestic violence we encourage you to reach out to our Extra Care team as early as possible. Our Extra Care team will be able to discuss your circumstances with you and discuss how we can support you to safely manage your banking.  

Reaching out is free and confidential. It won’t affect your banking with us and is a step towards getting the help you need. In some cases, with your permission, we may connect you with trusted referral partners to help you get the right support.

How we can help

We will take the time to understand your situation and determine appropriate support - all on a confidential basis. If there is an immediate threat to your safety, please call 000.  

Get Extra Care support Monday to Friday, 8:00am to 7:00pm (AEST/AEDT)

Call 1300 311 593 

Financial Hardship assistance

If you find yourself experiencing financial difficulties due to your circumstances, you may want to consider applying for financial hardship. For further information visit our financial assistance and support page.

Free, independent and confidential financial counselling

Financial counsellors offer free, independent and confidential advice to help you better manage your money and get you back on track. 

A financial counsellor may be able to speak directly with us and other lenders on your behalf, so you don’t have to manage conversations with multiple banks or service providers yourself.

Visit National Debt Helpline.

What is financial abuse and elder financial abuse?

Financial abuse is where a person impacts, limits or restricts another person’s ability to obtain, use or maintain economic resources. Financial abuse can threaten a person’s financial safety and independence.

Financial abuse is often a form of domestic and family violence but can also occur outside of family relationships. It is often used to keep victims in abusive relationships and limit a victim’s safety if they leave the relationship.

Elder financial abuse may involve a single act or repeated actions within a relationship where trust is expected. This type of abuse can cause significant harm or emotional distress to an older person.

Financial abuse and elder financial abuse can include the following types of abuse.

  • Not giving money for essentials

Someone refuses to give money for things like food, rent or medicine or threatens not to.

  • Blocking access to money

Stopping someone from using either their own or their business's money or preventing them from making their own financial decisions.

  • Taking property without permission

Moving someone’s property or money to another person’s name without asking.

  • Hurting credit score

Not paying bills or debts on purpose to damage someone’s credit rating.

  • Misusing legal power

Using a power of attorney to take someone’s money or property for personal use.

  • Business exploitation

Using someone’s business name or money for personal gain without their permission or forcing them to sign business documents they don’t understand.

  • Forced to borrow money

When someone makes another person take out a personal loan, business loan or credit card they don’t want or don’t understand.

  • Hiding bank information

Not letting someone see their own (or business's) bank statements or internet banking, so they don’t know what’s happening with their money.

  • Unfair sharing (or unreciprocated sharing)

Not helping with shared costs, asking for money and not paying it back or not sharing fairly, for example during parental leave.

How the ‘Safe and Savvy Guide’ can help

Developed by the Australian Banking Association (ABA), the Safe and Savvy Guide has been created to help you detect potential elder financial abuse, scams and fraud for both you and your loved ones.

The guide will help you understand:

  • What elder financial abuse is, and why you need to be aware of it.
  • How to recognise the types and signs of elder financial abuse.
  • How to protect you and your loved ones against potential abuse both now and in the future.

The ABA Safe and Savvy guide (PDF, 6MB)

We have zero tolerance of financial abuse

  • We aim to protect you from financial abuse carried out on your personal accounts or through our electronic banking channels.
  • If we identify (or are made aware of) unacceptable account conduct, we’ll investigate and act.
  • We’ll reasonably exercise our rights under the account agreement if we believe we need to protect you or another person from financial abuse.
  • We may suspend, cancel or deny an accountholder access to a product or its features.

If you’re concerned about your banking safety, call our dedicated team on 1300 311 593.

Online skills help older Australians stay safe

Online skills, knowledge and confidence are vital for older Australians to protect their privacy, avoid scams and reduce social isolation that can foster elder abuse. Be Connected is an award-winning Australian government initiative that provides all of this – free of charge. 

The Be Connected website is a one-stop shop with more than 150 online learning modules and 350 learning activities. From setting strong passwords to communicating on social media and spotting scams – it is a powerful resource for older Australians to protect themselves.

External support for financial and elder financial abuse

Many organisations are committed to supporting individuals who are impacted by financial or elder abuse. If you are experiencing financial or elder abuse, these organisations want to work with you to provide specialist support. If there is an immediate threat to your safety, please call 000.

  • 1800RESPECT - 1800Respect exists to support anyone at risk of or impacted by sexual assault, domestic or family violence. For 24/7 confidential support, counselling and information call 1800 737 732. They can also direct you to local support services.
  • Lifeline - Lifeline is a national charity that provides all Australians experiencing a personal crisis with access to 24-hour crisis support and suicide prevention services. For crisis support call 13 11 14.
  • National Association of Community Legal Centres - An independent non-for-profit community organisation that provides legal and related services to the public, focusing on the disadvantaged and people with special needs.

National Elder Abuse Helpline - If you or someone you know may be at risk of, or experiencing elder abuse, call the National Elder Abuse Helpline on 1800 ELDERHelp (1800 353 374).

Support close to you

Victoria

  • Senior Rights Victoria - Provides information, support, advice and education to help prevent elder abuse and safeguard the rights of senior citizens.
  • Victims of crime helpline - Can provide financial assistance, advice and support through counselling, making a report, emergency home security and much more.

New South Wales

  • Financial Rights legal centre - Offers advice and advocacy for customers in financial stress.
  • The Council on the Ageing (COTA) - is the peak non-government organisation for people over 50 in New South Wales, working with politicians, policy makers, service providers and the media to ensure the views of older people are heard and acted on.

Queensland

  • Elder Abuse Helpline - Provides free and confidential support. Trained staff can listen, discuss your situation and offer referrals to appropriate services and resources.

South Australia

  • Housing SA Private Rental Program - Provides assistance for individuals and families to access a tenancy in the private rental market, services include support with bonds, removals and advocacy.
  • South Australian elder abuse phone line - Provides confidential support for you or someone you know is concerned about elder abuse and can provide advice on the situation.

Tasmania

  • Anglicare Private Rental Support - Provides assistance for individuals and families to access a tenancy in the private rental market, this includes support with bonds, removals and advocacy.
  • Tasmania elder abuse phone line - Provides confidential support for you or someone they know is concerned about elder abuse and can provide advice on the situation.

Western Australia

  • Victims of Crime - Support with claiming compensation for any suffering, including financial earnings both past and future.
  • Elder Abuse Helpline - Provides tailored support for people over 65 years of ages experiencing or at risk of experiencing elder abuse.

Australian Capital Territory

  • Older Persons ACT Legal Service - A specialised service within Legal Aid ACT. It provides legal support and advice when experiencing elder abuse and connects you other relevant support services and resources.

Northern Territory

Council On The Ageing - Provides information, support, advice and education and connects you other support services and resources.

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