It’s Safer Ageing Week – yet older people have had £23.5 MILLION stolen from them every year

Charity Hourglass launched its fifth annual Safer Ageing Week campaign on Monday 11 November. Entitled ‘Take Note’, it runs from the 11 to 17 November and warns of the continuing tide of economic abuse against older people.

The charity, operating across the UK, uniquely supports older victims-survivors of abuse and neglect across the four nations. Its services include a 24/7 helpline, unique casework service and specialist policy unit.

Safer Ageing Week: shocking figures revealed

At the launch of Safer Ageing Week the charity has revealed that over £53 million has been stolen or defrauded from older people in the past three years. These are purely in cases reported to their helpline, meaning this is just the tip of the iceberg.

These figures equate to an average value lost as £87,000 per victim. In 61% of these cases, the perpetrator was a family member of the victim-survivor.

The effect on this massive fraud against older people is significant, bearing in mind the ongoing cost of living crisis and a rapidly ageing older population that is set to see a further 9.6 million older people in the UK by 2050. The charity believes this abuse is only set to increase.

Awareness amongst the general public of what constitutes economic abuse is shockingly low, with a 2024 poll conducted by Hourglass finding that over 26% of people did not believe that forcing an older relative to change their will was an act of abuse.

Hourglass: this has to stop

Hourglass is set to release further reports throughout Safer Ageing Week which will reveal the nature and extent of the economic abuse of older people and evaluating how well financial institutions are performing at safeguarding against this abuse.

Veronica Gray, Deputy CEO and Director of Policy of Hourglass said:

Safer Ageing Week this year focuses on economic abuse and the theme is ‘Take Note’. The £53m stolen or defrauded from Hourglass victim-survivors underlines the significance of Taking Note and for the public and influencers to finally grasp the epidemic proportions of abuse against older people.

We would urge everyone to support this fifth Safer Ageing Week and keep an eye on the raft of announcements and initiatives underway during the week. Hourglass wants everyone involved in supporting older people or dealing with domestic abuse or neglect to help bring this to the public’s attention. Put simply – it’s time for people to take note.

The charity is urging those keen to support the charity to donate by visiting www.wearehourglass.org.uk/donate or Text SAFER to 70460 to donate £10. Texts cost £10 plus one standard rate message and you’ll be opting in to hear more about our work and fundraising via telephone and SMS. If you’d like to give £10 but do not wish to receive marketing communications, text SAFERNOINFO to 70460.

Featured image via Hourglass