Financial abuse of the elderly : a case study of Finland

Abstract

Financial abuse of older adults is an increasingly important yet underreported form of victimisation, particularly within ageing and highly digitalised societies. This study examines the extent and nature of financial abuse among older adults in Finland, with a specific focus on factors associated with vulnerability. A quantitative research design was adopted using an anonymous online questionnaire distributed to individuals aged 65 and above residing in Finland. A total of 57 respondents participated. Data were analysed using descriptive statistics, chi-square tests, and the Mann–Whitney U test. The findings revealed that 12.3% of respondents reported experiencing financial abuse. Online scams by unknown individuals were the most common form of abuse. A strong statistical association was identified between sharing banking credentials and reported abuse. No statistically significant relationships were found for age, gender, living arrangement, or general use of online banking. Although awareness of reporting mechanisms was relatively high, formal reporting remained low. The study concludes that financial abuse in later life is increasingly shaped by digital vulnerability rather than traditional dependency factors alone. The findings highlight the need for stronger digital safeguards, targeted financial education, and improved institutional responses.