Elderly 'suffering from financial abuse'
15th October 2009
AN increasing number of elderly people, particularly those with impaired capacity, are suffering from the effects of financial abuse, Queensland's Public Trustee says.
Peter Carne warned that the rising trend of elder abuse, particularly financial abuse, was having a devastating effect on the state's elderly community and often it is relatives and friends behind the rip-offs.
He said examples of financial elder abuse include non-payment of nursing home accounts, refusal to provide funds for personal expenses, withdrawals from bank accounts and the sale or transfer of a house.
"This type of abuse frequently results in an elderly person's assets, such as their bank accounts or house being stolen," Mr Carne said.
"The effects can be devastating because they may lose financial capacity to meet the cost of their care.
"Frighteningly, the research shows it is family or friends, entrusted with an elderly person's financial affairs, who take advantage of this trust to steal assets for their own financial gain.
© AAP
Abridged
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