A recent nationwide survey on elder abuse and neglect in Malaysia found that approximately one in every 100 seniors have experienced financial abuse. This is far behind the other types. which are psychological abuse and neglect.
Another local study however indicated a higher occurrence of financial abuse, which is close to 5 per cent, or one in every 20.
Traditionally, financial abuse that is reported in published studies refers to theft, deception, and manipulation by those in a relationship of trust. In other words, perpetrators are often family members, including children, in-laws, and relatives.
These figures may seem low, but we must bear in mind two things. First, elder abuse cases in general — and financial abuse in specific — are overwhelmingly under-reported.
Experts have highlighted that only one case reaches the authority for every five to 20 elder abuse cases….