The Australian Human Rights Commission will lead a new national initiative to combat financial elder abuse, bringing together leaders from banking, superannuation, financial services, legal and community sectors to drive stronger protections for older Australians.
Funded by the Commonwealth Attorney-General’s Department, the Financial Elder Abuse Action Collaborative will raise awareness of financial abuse and deliver practical reforms to better prevent, identify and respond to abuse, in line with the National Plan to End the Abuse and Mistreatment of Older People 2026-2036.
A defining feature of the project is its collaborative approach which is based on a shared commitment and joint action to reduce financial elder abuse. Leaders from the banking, superannuation and financial services, financial counselling and advisory services, and peak community and legal organisations will work together to deliver tangible improvements for older people at risk of, or experiencing, financial abuse.
Age Discrimination Commissioner Robert Fitzgerald AM said ‘Older Australians have the right to live with dignity, be protected from financial abuse, and empowered to exercise control over their future. No single organisation or sector can solve financial elder abuse alone. By bringing leaders together from across sectors, we can deliver practical changes that prevent it and ensure we are better equipped to respond to it.’
Bev Lange, Executive Officer at Elder Abuse Action Australia (EAAA), the national body formed to raise awareness of and seek to eliminate elder abuse, said that ‘1 in 6 older Australians experiences abuse – and for many, that includes financial abuse. Real change requires national leadership and collective action. This project does both.’
The Australian Banking Association is the peak body representing over 20 banks in Australia. CEO Simon Birmingham said that ‘banks play a critical role in identifying and responding to financial elder abuse. This project strengthens our ability to work alongside government and community partners to better protect older Australians.’
The project is the second phase of the Financial Elder Abuse Project which was led by the Commission from 2024 – 2026.
