New data has unveiled a disturbing reality about financial abuse: more than 80% of cases involve perpetrators who are familiar to their victims. The findings shed light on a hidden form of exploitation that often occurs behind closed doors.
Common examples of this abuse include seemingly minor acts that can have major consequences for vulnerable individuals. Family members or friends might pocket the change after shopping for an elderly relative, while others resort to direct theft of cash from homes. One particularly concerning trend involves the unauthorized use of victims’ bank cards.
The statistics highlight how trust can be exploited within personal relationships, making it difficult for victims to recognize or report the abuse. Unlike scams by strangers, this form of financial exploitation often goes unnoticed as it’s committed by trusted individuals who have easy access to the victim’s home and finances.
These findings underscore the importance of families and communities remaining vigilant about financial abuse, particularly when it comes to protecting vulnerable members of society, such as the elderly or those depending on others for assistance with their financial affairs.