More than one in 10 adults have experienced financial abuse, notes survey

More than one-tenth of adults in Ireland have experienced financial abuse while one in five somebody who has experienced such abuse, a new survey has found.

On Friday, Safeguarding Ireland published survey findings to mark Adult Safeguarding Day, an annual initiative co-ordinated by the organisation and supported by the Health Service Executive.

According to research conducted by RedC polling company, 11 per cent of adults surveyed said they had personally experienced financial abuse, while 20 per cent said they were aware of someone else who had suffered abuse.

Among those who had personally experienced financial abuse, 85 per cent of the situations involved a person known to them, while among those who had witnessed financial abuse, the abuser was known in 78 per cent of instances.

The most common instances of financial abuse was cash being taken from around the house (60 per cent), change not given back or returned (57 per cent) or a bank card misused (54 per cent).

Women aged 35 to 54 were most likely to experience financial abuse, while those in lower social grades and those who were widowed or separated also had a high incidence.

Patricia Rickard-Clarke, chairwoman of Safeguarding Ireland, said financial abuse is particularly prevalent among older people who are frail and also people with an intellectual or physical disability, an acquired brain injury, or mental challenge.

“While the majority of people are honest, it has been estimated internationally that one in 10 people are dishonest in how they manage another person’s money, property, or benefits,” she said. “We know that it often involves coercion of a vulnerable person. It can happen when someone is dependent on another person for help and that person subtly misuses their money. This can start small and escalate into serious crime.”

Ms Rickard-Clarke said the message is to encourage all adults to “keep in control of their own money as much as possible, to be very careful about who to trust and to plan for the future”.

Tim Hanly, general manager of the HSE National Safeguarding Office, said financial abuse is a “serious crime”.

“If there is a serious and immediate danger, call the Gardaí at 999 or 112. For an ongoing financial safeguarding issue contact the HSE Safeguarding Team,” he said.

“For a better understanding on how to keep money, property and benefits safe, people can also contact their financial provider — the bank, An Post, or Credit Union branch. There is good information and supports available.”