Calls for prevention of financial exploitation of older people

The government body charged with tackling the abuse of older people is calling on financial institutions to be more active in preventing their exploitation.

The Elder Abuse National Implementation Group estimates that up to 23,000 older people may suffer from abuse with financial abuse accounting for 60 per cent of cases.

Such manipulation can include the unlawful withdrawal of funds from ATM machines and the sale of unsuitable investment policies

Chairman of the implementation group Professor Des O'Neill said other countries have addressed these problems.