Economic Abuse Policy

Improving Protections Against Economic Abuse: Policy, Practice, and the Law.

What is economic abuse, and how does it affect older people? This Hourglass policy briefing paper explores the perpetration, impact, and cost of economic abuse, and illustrates how older people comprehend its effects. Within this piece, Hourglass advocates for greater protection for older people from economic abuse, and outlines key future policy recommendations for policymakers, legislators, and practitioners. 

 

Key Issues:

 

  • Economic abuse is one of the most common types of abuse in later life.

 

  • Economic abuse is a crime and should be treated as such.

 

  • Suffering economic abuse as an older person can have life changing effects, leading to trauma, mental health problems, and death.

 

  • Millions of pounds worth of money and assets are stolen, defrauded, or coerced from older people every year.

 

  • Money management programs, bank account controls, and raising public awareness could be key tools in protecting older people from financial abuse.

 

  • Changes to forfeiture law could also ensure that perpetrators do not succeed in making financial gains off of those they have abused

Hourglass policy domestic abuse brief

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