Financial and material abuse can be used to control a person, find out more about the signs and how to seek help here.
Skip Guide Navigation
How to prevent financial abuse
Financial abuse is a serious problem, but there are things you can do to protect yourself and your loved ones.
Talk to your loved ones about money.
This includes discussing your financial plans for the future, and how your finances will be managed if you become unable to do so yourself. You can also nominate a Power of Attorney to help you with your finances if you need it.
Monitor bills and bank statements.
If bills are left unpaid or large sums of money have come out of your account, this could be a sign of financial abuse.
Be careful with cash.
Don't keep large amounts of cash in your home, as this could make you a target for theft.
Be aware of scams.
Scammers often target older people and people with disabilities. Be wary of unsolicited phone calls, emails, and letters. Never give out your personal or financial information to someone you don't know and trust.
Seek financial advice.
If you are unsure about how to manage your finances, seek advice from a financial advisor. Your bank manager can also help you to identify any extra support that may be available to you.
Stay safe online.
Ensure you have strong passwords and be suspicious of any links or emails you don't recognise.
Stay connected to your community.
Social isolation can put people more at risk of financial abuse. Make sure to stay in touch with your loved ones and participate in community activities.
Set up a Lasting Power of Attorney (LPA).
This enables you to choose someone you trust to make decisions on your behalf about things such as paying bills and collecting income if you become unable to do so yourself.
Display a 'no cold callers' sign.
This can help to deter scammers from knocking on your door.
Stop junk mail and unwanted telephone calls.
There are several ways to do this, such as signing up for the Mailing Preference Service and Telephone Preference Service.
Run background checks on caregivers or personal assistants.
Anyone entering your home or has personal contact with you should be accounted for and trustworthy.
Protect your valuables.
List and photograph all of your valuables and keep the items in a locked drawer and the photographs in a different location.
