Financial institutions and an advocacy group have reported worrying elder abuse and rising attempts to financially victimise senior citizens.

Last year, the charity Age Concern, referred more than 50 cases to the authorities, due to concerns about elder abuse, a figure higher than in previous years.

Executive director Mercedes Pringle, speaking shortly after Saturday’s Elder Abuse Awareness Day, said that “a pretty good chunk” involved potential financial crime.

She said Age Concern regularly fields calls from seniors and caregivers on the topic, but cannot investigate themselves, instead referring callers to the police or agencies such as Government’s Ageing and Disability Services.

The organisation is concerned about the lack of actionable statistics on the prevalence of elder financial abuse.

Geoff Scott, head of the Bermuda Bankers Association, said banks see signs of attempted financial crimes against older people, including cases involving family members.

“I can tell you, elder abuse is a problem,” he said. “I think anything more than zero cases is bad enough. We do not need to know the exact number.”

Ms Pringle was particularly concerned about the misuse of power of attorney – legal control usually given to a caregiver when someone is deemed unfit or unable to make their own decisions.

“The power of attorney is something that a lot of people need to learn how to use respectfully,” Ms Pringle said. “Some families get into sticky situations with it.”

The charity hears about all types of financial abuse involving senior citizens.

“We get calls and e-mails from seniors about suspicious e-mails,” Ms Pringle said. “There are sometimes problems with family members suspected of stealing money. Sometimes it is about the transference of money using iTunes gift cards.”

Scammers like the cards because they are untraceable. Victims of this type of financial fraud, are rarely able to recover their money.

Age Concern recently held a workshop with the Bermuda Police Service to educate its members about financial abuse and fraud.

“There had been a lot of questions about it,” Ms Pringle said.

Mr Scott said World Elder Abuse Awareness Day was an opportunity to remind people about the importance of recognising the signs of financial abuse and ways to prevent it.

A statement from the BBA stated: “Older adults are often the target of financial abuse, but anyone can fall victim to it.

“Financial abuse is unethical, and in many cases it is also illegal. It’s important to be aware that financial abuse can come from unexpected sources.”

Older people unable to bank in person, were advised to do financial transactions themselves, if possible, by telephone, online or mobile banking.

Senior citizens should also carefully choose those who help them with their banking and financial decisions.

The statement said: “You can say ‘no’ when someone pressures you for money or to buy something – even family members.”

The BBA will be posting more information about preventing financial abuse of seniors on their Twitter page later this month.

• To report or discuss elder abuse, contact Government’s Ageing and Disability Services or the Ministry of Youth, Social Development and Seniors, at 292-7802 or 278-4900 or e-mail ads@gov.bm