The nation's bankers are again calling on federal and state governments to commit to reforms to help combat financial abuse of the elderly.
As many as 10 per cent of older Australians experience abuse, whether it be financial, legal, emotional, physical or neglect, Australian Banking Association chief executive Anna Bligh says.
"What we are calling for today is for federal and state Attorneys-General to commit to a timeline to deliver reforms that will ensure older Australians are protected from financial abuse" Ms Bligh says.
The call comes as advocates, policy makers, community groups and business organisations gather in Hobart as they work towards eradicating elder abuse.
The ABA and the Age Discrimination Commissioner Kay Patterson want the 2017 Australian Law Reform Commission inquiry recommendations into elder abuse implemented.
This includes nationally consistent laws governing enduring powers of attorney, including financial, medical, and personal, and to establish a national register of power of attorney instruments.
There also needs to be a body to receive and investigate reports on suspected cases of abuse in each state and territory jurisdiction.
While some states have systems in place, there is no uniform approach to reporting suspected financial abuse and the abuse is not investigated or acted upon.
Ms Bligh said the banks put in place a number of initiatives to assist with the prevention of elder abuse, but complexity created by the lack of harmonisation of laws between jurisdictions remains a significant barrier to real progress.
"The effect of it is confusion for older people and their attorneys, unnecessary complexity for banks and other entities," Ms Bligh said.
"It creates a system that contributes to financial abuse."
Dr Patterson said elder abuse is everyone's responsibility,
"This conference provides an important platform for us to share knowledge, exchange best practices and cultivate ideas about how we can work together to ensure older Australians can live their later years free from psychological, financial and all other forms of abuse," Dr Patterson said.
