Advocates for the elderly estimate that tens of thousands of seniors may have been taken advantage of financially by their relatives or caregivers.
Age Concern is highlighting the problem as part of efforts to mark the first global Elder Abuse Awareness Day.
Spokesperson Billie Jean Eydt says between 2002 and 2004, the organisation looked into almost 1,300 cases of elder abuse and neglect - 42% of which involved financial abuse.
She says financial abuse can take a number of forms, from someone who does the shopping for an older person taking extra money for themselves, to a grandparent being pressured into selling their house and giving the money to their family.
Eydt says it is believed the actual number of cases is far higher than reported.
