It’s the nightmare scenario every family dreads: discovering that a loved one’s hard-earned savings have vanished, siphoned away by someone they should have been able to trust.
For the family of an 88-year-old grandmother living with Alzheimer’s in a US independent living facility, this nightmare became a reality.
They learned that tens of thousands of dollars had been stolen from her bank account—allegedly by a fellow resident.
A shocking discovery
The ordeal came to light when Kathleen Gill’s family received an eviction notice from her independent living facility, Waterford of Fairfield.
Payments for her accommodation had defaulted, and the family was left scrambling to understand why.
The answer was as devastating as it was unexpected: Kathleen’s bank account, which should have been supporting her in her later years, had been almost completely drained.
‘We took my grandmother to the bank, and that’s when they told us that a resident of her apartment complex had taken her to the bank and cosigned herself to my grandmother’s account,’ explained Shay Halbeisen, Kathleen’s granddaughter. ‘That’s how we learned a stranger had been controlling her bank account for nearly a year.’
How could this happen?
According to a police report, the suspect, whose name had not been released, took Kathleen to the bank in May 2024 and managed to add herself as a co-signer.
Over the following months, more than $34,000 was spent, leaving just $300 in the account. The transactions were a mix of online shopping sprees and food delivery services—TikTok Shop, Etsy, Grubhub, Instacart, Apple.com, and even makeup companies.
All of this was highly suspicious, given that Kathleen doesn’t even own a smartphone.
‘It was just all stupid transactions,’ said Shay. ‘She knew my grandmother had memory problems. She was spending hundreds a day, thousands a month.’
The vulnerability of older Australians
Kathleen’s story is, unfortunately, not unique. Older Australians—especially those living with dementia or Alzheimer’s—are particularly vulnerable to financial abuse.
According to the Australian Banking Association, financial elder abuse is on the rise, with family members, carers, and even acquaintances sometimes taking advantage of an older person’s trust or cognitive decline.
Warning signs can include sudden changes to bank accounts, unexplained withdrawals, or new ‘friends’ taking an unusual interest in finances.
In Kathleen’s case, adding a new co-signer should have raised red flags at the bank, but the system failed her.
‘Her husband died a few years ago, and so that money was to help her through the rest of her life,’ said Halbeisen.
What can families do to protect loved ones?
If you have a loved one in aged care or living with cognitive impairment, there are steps you can take to help protect their finances:
- Monitor accounts regularly: Set up online banking alerts or request regular statements to keep an eye on transactions.
- Limit account access: Only trusted individuals should have access to bank accounts, and any changes should require multiple family members’ approval.
- Talk to the bank: Many banks offer special protections for vulnerable customers, including extra verification steps for account changes.
- Legal safeguards: Consider setting up an enduring power of attorney with clear instructions and oversight.
- Educate your loved one: Even if they have some memory loss, regular conversations about money and who is allowed to help can reinforce boundaries.
Seeking justice—and closure
Kathleen’s family is now seeking justice. ‘I want her to go to jail,’ said Shay. ‘She knows what she’s doing. She’s not innocent in all of this.’
The Fairfield Police are investigating, and the Waterford of Fairfield facility has assured the family that Kathleen will not be evicted while the matter is resolved.
Both the facility and the bank, Fifth Third, have declined to comment while the investigation is ongoing, but the bank has reiterated the importance of reporting suspicious activity and their commitment to protecting clients.
The bigger picture: Elder financial abuse in Australia
Sadly, stories like Kathleen’s are becoming more common. The Australian Institute of Family Studies estimates that up to 10 per cent of older Australians experience some form of elder abuse, with financial abuse being one of the most prevalent types.
As our population ages, it’s more important than ever for families, carers, and institutions to be vigilant.
If you suspect financial abuse, contact the Elder Abuse Helpline in your state or territory, or speak to your loved one’s bank about your concerns. Early intervention can make all the difference.
Have your say
Have you or someone you know experienced financial abuse or scams targeting older Australians? What steps do you take to protect yourself or your loved ones? Share your experiences and tips in the comments below—your story could help someone else avoid a similar fate.
If you need support or advice about elder financial abuse, contact the National Elder Abuse Helpline on 1800 353 374.
Also read: $1,200 ‘payment’? Centrelink warns of fake cost-of-living scams
