In the past year, the portion of people who believed they knew of mistreatment of an older person rose from 17 per cent to 22. 

Financial abuse was the most common form of suspected elder abuse. 

“And with Victorians living longer and with a growing intergenerational inequality, it could be even higher next year,” State Trustees chief executive officer, Craig Dent, said.

He described financial elder abuse as “one of the most important emerging issues of our time”.

One of the most concerning factors highlighted in the findings was the visibility of the mistreatment.

Family members were overwhelmingly suspected as the perpetrators of abuse. 

“The scale of elder abuse is unknown – there may be elder abuse taking place that is not visible to those outside the older person’s immediate family,” the report stated.

Findings from this year’s study add to a body of work the State Trustees has been compiling for a number of years.

“State Trustees is committed to raising the awareness of this ‘silent crime’,” Mr Dent said.

“We encourage every Victorian to be aware of the risks of financial abuse.”

The study exposed a lack of awareness of avenues to report suspected mistreatment, and safeguards against financial exploitation. 

Mr Dent encouraged people to put mechanisms such as a will and power of attorney in place to protect themselves, should they lose their decision-making capacity.

Loddon Campaspe Community Legal Centre practice manager Clare Sauro urged older people to seek legal or financial advice before making big financial decisions.

“While we all like to think the best of our family, sometimes circumstances change,” she said.

“Talking through a major financial decision with a professional may prevent unnecessary stress.” 

She said the legal centre’s casework indicated elder abuse was prevalent in the Bendigo area.

“And unfortunately, elder abuse is under reported,” Ms Sauro said.

“Often this is because older people feel ashamed. It’s also because the perpetrator is often the victim’s child.”

She said financial and physiological abuse was more common for older people than more obvious expressions of family violence, such as physical abuse.

“However, it is frequently hidden,” she said.

“Sometimes the older person is forced to pay bills or to hand over money.

“Sometimes others access their bank account or exploit an assets-for-care arrangement. For example, a child promises to look after their parent if the parent transfers the family home to them, then fails to provide the promised care or sells the home.”

Seniors Rights Victoria, the State Trustees, the Office of the Public Advocate and the Loddon Campaspe Community Legal Centre are among the organisations available to help.

In an emergency, call 000 and ask for police assistance.