Financial abuse of older people costing Northern Ireland £49m a year

ECONOMIC abuse of older people in Northern Ireland costs an estimated £49m every year, a charity has warned.

As part of Safer Ageing Week, a new report on the “economics of abuse” from Hourglass said the issue had an annual cost of £16.6bn to the UK economy.

With the latest census data showing there is close to 440,000 over 60s in Northern Ireland, Hourglass have estimated the equivalent figure for Northern Ireland to be £49m.

Taking into account the lower costs of goods and services in Northern Ireland, the calculation was also based on a 2016 Stormont strategy which said domestic and sexual violence cost the economy £931m a year.

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Hourglass add that the UK costs will balloon to £25bn by 2050 as the elderly population grows, and are calling for £307m to be spent “to rebuild hope and lives” on services to protect older people from fraudsters.

The report states: “Normally a £16bn issue of violence and neglect would be at the forefront of policy and public attention, but the abuse of older people and the needs of older victim-survivors continues to be last in line and suffer from a lack of attention, understanding, and a lack of care.

“Hopefully, placing a cost on the consequences of abuse against older people, will help policy makers to understand the dynamics of abuse, as well as the necessity of providing financial support to specialist services which aid older victim-survivors’.

Chair of Hourglass, Andrea Nicholas-Jones, said policy makers needed to understand the “epidemic of abuse” against older people and that older victims of financial abuse were twice as likely to die early.

CEO of Hourglass, Richard Robinson, added: “This doesn’t just make a case for investment in protection and essential services. It reveals the funding imbalance that has plagued older victim-survivors for generations. Now is the time to ensure older people are given parity in services, support and understanding.”

Over the last three years, Hourglass helplines have been contacted about £53m stolen or defrauded from older people – an average of £87,000 per victim.
In 61% of the cases, a family member of the older person was responsible.

Last week, Northern Ireland’s Commissioner for Older People Eddie Lynch warned of “disgraceful” winter fuel payment scam texts targeting vulnerable people.

Claiming to be from the UK Government offering winter fuel payments, the texts were meant to con recipients into revealing personal and banking information.

Mr Lynch said the fraudsters were exploiting the current financial climate and people’s anxieties.

“The impact of falling victim to these scams goes beyond financial loss, it can cause significant emotional distress, loss of trust, and leave individuals feeling even more isolated,” he said.