Financial Abuse in Singapore: How to Spot It and Legal Remedies

Last updated on February 20, 2026

Financial abuse is a form of exploitation that is hard to detect but can have severe consequences. It generally involves taking advantage of someone else financially – usually vulnerable persons such as the elderly, those with diminished capacity, and even stay-at-home mothers – by someone in a position of trust or control. This can result in cases where the victim is left with no money to take care of themselves.

This article explains:

What is Financial Abuse?

Financial abuse refers to the misuse, misappropriation, coercion or exploitation of another person’s money, property or assets by a person in a position of trust or control. The person with such control over someone else’s money could be a family member, caregiver, paid helper, agent, or even a financial advisor.

For example, financial abuse might occur when a person abuses their elderly parent’s trust in them and coerces their parent to transfer savings into their own personal bank account. Financial abuse may also take the form of a husband managing all the finances at home and refusing to allow the wife to access her own bank accounts or use debit cards.

Is financial abuse the same as scams?

Financial abuse and scams both involve the misuse of another person’s money through deception, coercion, or exploitation. In both situations, victims may experience shame, isolation or fear of reporting due to embarrassment or dependency on the perpetrator. Legally, both may constitute criminal offences such as cheating or criminal breach of trust under the Penal Code.

The key distinction between financial abuse and scams is the relationship of trust. In cases of financial abuse, the perpetrator is typically someone close to the victim and in a position of trust. The abuser exploits this personal relationship and allows the abuser to have control over the victim’s money because the victim trusts the abuser. Such cases usually take place over time through manipulation rather than a one-off fraudulent act. Take, for example, a caregiver for an elderly woman. After spending a few months with him, she trusts him to help her withdraw money and so hands him her ATM card. He then uses her ATM card to withdraw money for his personal use. This would be a case of financial abuse because he is using his close relationship with the victim and exploiting her vulnerability (i.e. her old age) to obtain money from her.

This differs from a typical scam, where the perpetrator usually gets into contact with a victim with the sole intention of scamming the person, and where the victim may or may not be a vulnerable person. For example, a woman puts up purported online listings selling a handphone for a cheap price. A man, thinking he has scored a good deal, agrees to send her the money to have the phone mailed to him. She keeps the money but does not mail out the phone. This example would be a typical scam and not financial abuse, as the perpetrator did not make use of a close relationship with the victim and did not exploit any vulnerability of the victim.

However, a scam can be considered financial abuse if the scammer is a trusted person. For example, if a caregiver persuades her elderly employer to invest in a fake company but transfers the funds to their own account, the act may be considered both a scam and financial abuse.

Who is susceptible to financial abuse?

Vulnerable adults

Financial abuse can occur to anyone. Most commonly, however, it occurs to vulnerable adults (VAs). A VA, as defined under the Vulnerable Adults Act 2018, is a person of at least 18 years old, has a mental or physical infirmity, disability or incapacity, and because of it, is unable to protect themself from abuse, neglect or self-neglect. VAs with a mental infirmity include those with dementia, Parkinson’s disease or serious mental health problems, such as those who become vulnerable after trauma or illness. VAs with a physical infirmity include those with physical disabilities.

VAs can include younger adults, but a big proportion of VAs overlap with the elderly. The elderly who fall prey to financial abuse are usually frail, housebound, cognitively impaired, socially isolated or financially dependent.

The Ministry of Social and Family Development (MSF) has found 5 to 18 cases of alleged financial abuse of vulnerable adults, such as the elderly with disabilities, from 2018-2023. Cases include adult children who forced their parents to monetise their assets for the child’s benefit and withdrew money from the parents’ bank accounts without telling the parents. The perpetrator would often be an immediate family member of the victim. Some cases even involved violence against the victim.

You may wish to read our other articles for more information on the penalties and protections for elder abuse in Singapore.

Spouses

Financial abuse can also be found in relationships between spouses. Financial abuse is a kind of domestic violence and often, its victims are women.

In one case, a woman quit her job after marrying at a young age and moved to Singapore to be with her husband. Although he promised to provide for her, she was not given money to buy basic necessities such as food and diapers for her babies and a new shirt when her shirt was torn. Throughout their 15 years of marriage, her husband would also oversee their finances and question her about all the transactions in her bank account, even when the activity did not concern him. This case, according to the deputy CEO of the Singapore Council of Women’s Organisations, fell squarely within the realm of financial abuse – “one form of violence in a relationship where the perpetrator exerts power and control by deliberately limiting the victim’s access to financial resources”.

What are Some Common Signs of Financial Abuse?

One clear sign of financial abuse is the sudden or unexplained withdrawals from the victim’s bank accounts without consent. An example of this was reported by the Straits Times, where a woman in her 70s handed her ATM card to her son to help her withdraw money, but her son transferred $20,000 to $30,000 to himself without her consent, leaving her with almost nothing. In another example, a widower in his 80s handed his ATM card to a relative’s partner to help him buy meals, but thereafter realised that the partner had taken tens of thousands of dollars from his account.

The unexplained transfer of assets from the victim may also take the form of a sudden sale of the victim’s property without clear benefit to the owner. One such case that was also reported in the local media concerned an elderly woman who sold her house to live with her only son, who promised to take care of her. However, he disappeared after keeping the sale proceeds of the house. Even more concerning are cases where the victim is unable to pay for daily necessities such as food and bills while the victim’s assets are disappearing.

Other red flags include a sudden change in legal documents such as wills, powers of attorney, and bank authorisations, without a clear explanation. Such a change may have been proposed by someone close to the victim and seem to benefit another person disproportionately. The victim might also change their longstanding lawyers for no clear reason.

Financial abuse might also be present where the victim appears isolated or overly dependent on a trusted person, such as a close relative or caregiver. The victim might appear socially withdrawn and show deference to a trusted person who manages finances. The trusted person might have control over the victim’s access to money, bank transactions, and even communication with third parties. The situation may be especially concerning if the trusted person is a new friend or romantic partner of the victim.

What are the Available Avenues for Recourse (Legal or Otherwise) That Can be Taken in Cases of Financial Abuse?

Criminal remedies

Where financial abuse involves dishonesty, deception, or coercion, it may cross the threshold into a criminal offence.

In such situations, a police report must first be made against the perpetrator. If the police, after carrying out further investigations, are of the view that all the elements of the offence can be shown beyond a reasonable doubt, the offender will be charged and face criminal prosecution.

Do also note that it is not a given that the court will order full restitution to be made, especially if it is not clear how much the losses are. Civil remedies (discussed below) are a more suitable option to recover money from the offender.

If in doubt about whether to make a police report against a perpetrator of financial abuse, we strongly recommend that you first seek legal advice to determine the best course of action.

Criminal breach of trust

A person commits a Criminal Breach of Trust (CBT) when he/she, being entrusted with property or having dominion over it, dishonestly misappropriates that property, converts it for personal use, uses or disposes of it in violation of a law, or allows another person to do so.

In 2023, a domestic helper was sentenced to 15 months’ jail for CBT because she withdrew $88,600 from her employer’s 95-year-old father’s bank account. She had access to the victim’s bank account as he had entrusted her with his ATM card and PIN so she could help him withdraw money from his DBS account. Because she had control over his funds and used them dishonestly, she was found guilty of CBT.

The penalty for CBT is imprisonment of up to 7 years, or a fine, or both.

Theft

A person commits theft when they dishonestly take movable property out of another’s possession without consent.

In 2020, an adult son facing gambling debt stole money from his mother – who was suffering from dementia – under the pretext of accompanying her to buy groceries. During these trips, he exploited her dementia and directed her to withdraw cash from her account and give it to him. His scheme was discovered by his father, and the son eventually pleaded guilty to three charges of theft and was sentenced to 13 months’ jail.

The penalty for theft is imprisonment of up to 3 years, or a fine, or both.

Cheating

Cheating occurs when a person deceives another and induces the victim to deliver property, or acts or omits to act in a way he would not do if he were not deceived, which causes damage to another person.

In 2019, a woman faked her death and impersonated her father and lawyers to cheat her aunt of $113,825. She claimed that she had left her aunt an inheritance, but various administrative fees needed to be transferred to her father’s bank account before her aunt could receive the sum. Her aunt made many transfers to the woman until she had no money left in her bank account. The aunt met with a lawyer over the predicament, and that was when she realised she had been scammed. The woman was charged with cheating and ultimately sentenced to 20 months’ jail.

The penalty for cheating is imprisonment of up to 3 years, or a fine, or both.

Protection of Harassment Act (POHA)

Financial abuse may involve threats, intimidation or harassment. According to POHA, it is an offence to use any threatening, abusive or insulting words or behaviour that causes harassment, alarm or distress.

For example, an adult son frequently comes to his mother’s home, bangs on her door and threatens her for money. He might be found guilty of harassing his mother under POHA.

The penalty for intentionally causing harassment, alarm or distress to another person is a jail term of up to 6 months, a fine of up to $5,000 or both.

Civil remedies

You may also consider bringing a civil claim against the other party who is carrying out the financial abuse. Such a claim may fall under unjust enrichment, breach of fiduciary duty, injunctions, rectification, or POHA-related civil relief. Unlike criminal cases, which punish the wrongdoer, civil remedies aim to restore the victim’s losses.

However, note that in civil cases, the victim bears the burden of proof and must provide documentary evidence on the claim(s) they are bringing. In addition, if the perpetrator has no money to repay the victim and becomes bankrupt, the claimant may not be able to recover the sum lost. Lastly, civil proceedings can be lengthy and costly as they typically require legal representation and court fees.

If you are unsure whether to start a civil action against a perpetrator of financial abuse, we strongly recommend that you first seek legal advice to decide the best steps to take.

Unjust enrichment

Unjust enrichment is based on the law of restitution, which is in turn based on the principle that no one should be unjustly enriched at another person’s expense. In other words, money should not be transferred without any lawful reason. For such a claim to succeed, the claimant has to show that the defendant was enriched, the enrichment was at the expense of the claimant, and the enrichment was unjust.

Take, for instance, a man who manages his disabled aunt’s bank account to pay her utility bills. The man transfers a sum of money from the aunt’s account to his own bank account, claiming it is a gift. The aunt can file a civil claim for unjust enrichment, arguing that her nephew was unjustly enriched at her expense without consent or consideration.

To support a claim in unjust enrichment, there must be evidence such as bank records and communication that show that the transfer was never intended as a gift or was an authorised transaction.

Breach of fiduciary duty

Fiduciary duties arise where one person is in a position of trust and has undertaken to act for another person’s benefit. Examples include a trustee, agent, donee under a Lasting Power of Attorney (LPA), or deputy appointed under the Mental Capacity Act.

For there to be a breach of fiduciary duty, there must have been a fiduciary relationship between the claimant and the defendant. The fiduciary must have acted in conflict with the claimant’s interests or made unauthorised profits, and the breach caused loss to the claimant.

Consider a scenario where an adult daughter and son have been appointed as donees under an LPA to make decisions on behalf of their mother, who has since lost mental capacity. The daughter starts using her mother’s money to invest in her own company. The son may start a civil claim on behalf of his mother against the daughter, as she might have committed a breach of fiduciary duty by using the money for her own benefit instead of using it to take proper care of her mother.

In such a scenario, the court may order the fiduciary to account for profits (if the investment has actually reaped rewards) or transfer the money back to the mother.

Mareva injunctions

A Mareva injunction is a legal tool that freezes a defendant’s assets. This is to prevent the defendant from hiding or dissipating assets while proceedings are ongoing.

To obtain a Mareva injunction, the claimant must have a good arguable case, there is a real risk that the defendant will dissipate assets, and it is just and convenient to grant the order. Note that Mareva injunctions are urgent and temporary measures, and that it might be difficult to show a real risk that the defendant is planning to dissipate assets.

For example, a son transfers the ownership of his mother’s condominium to his name without her consent, then tries to sell it. The mother’s lawyer can apply for a Mareva injunction to freeze the sale of the property and/or the sale proceeds while a civil claim for unjust enrichment is underway.

Rectification/setting aside transactions

Transactions can be set aside if they are entered into under undue influence or a lack of mental capacity. Contracts can be considered void if a party lacked mental capacity (e.g. was severely affected by dementia) or acted under undue influence. Undue influence occurs when another person exercises dominance or influence over a victim to obtain the victim’s consent to a contract. A void contract is not legally enforceable and is treated as though it never existed.

For example, an elderly woman establishes a trust in the presence of her daughter. The trust confers a benefit on that daughter but does not appear to bring any benefit to the woman herself. The woman lives with her daughter, and her daughter isolates her from other family members. When the woman is alone without her daughter, she tries to revoke decisions supporting the establishment of the trust. In such a scenario, the court may find that the victim signed the documents establishing the trust while under undue influence, and may treat the trust like it never existed.

Civil relief under POHA

Where financial abuse includes threatening or harassing behaviour, victims can seek civil remedies under the POHA, such as a personal protection order (PPO) against the person to protect themselves from further violence, or an expedited protection order (EPO) for urgent cases. A PPO is an order from the court that restrains a family member from committing violence against another person. If the subject of the PPO uses family violence against the person the PPO is supposed to protect, their behaviour might constitute a criminal offence.

In 2018, an adult son threw a tantrum, shouting and kicking the furniture in the house after his parents refused to give him $10,000. Because of previous acts of violence against the family, his mother had taken a PPO against their son. His subsequent behaviour constituted a breach of the PPO.

For breaching a PPO, an offender faces a jail term of up to 12 months, and/or a fine of up to $10,000.

For more information, please visit this article on PPOs.

Other protections/remedies

Vulnerable Adults Act

A protective order under the Vulnerable Adults Act can be applied for to protect a VA. This will allow authorities to identify, report and safeguard vulnerable adults and to intervene and coordinate care/protection. Such an order can be applied for by:

The VA themselves if they are at least 21 years old and have capacity
A family member of the VA, or
If the VA lacks capacity, the VA’s donee or deputy

The types of protective orders the court can make include orders:

Restraining the abuser from abusing the VA;
Committing the VA to someone else’s care for up to 6 months;
Granting the VA exclusive position of their place of residence such that the abuser is excluded;
Prohibiting the abuser from entering a frequented place or area near the residence of the VA; or
Prohibiting the abuser from visiting or communicating with the VA

For more information, please visit this article on a protection order against a VA.

Cases which involve a donee or deputy

When the victim has lost mental capacity, either a donee under an LPA or a deputy (appointed by the court) can make decisions on behalf of the victim. If you suspect that a donee or deputy of the victim is committing financial abuse, you can make a report to the Office of the Public Guardian (OPG), which registers and supervises LPAs and deputies. The OPG can investigate suspected misuse and provide guidance on undoing the transactions or replacing the donee or deputy.

To find out more information on how the OPG can intervene, please visit this website.

Financial industry mechanisms

Banks have internal procedures to block suspicious transactions, such as account freezes when exploitation is suspected and enhanced verification for large or unusual withdrawals. At some banks, staff members are trained to spot customers who may be facing financial abuse by a family member to keep the elderly persons’ money safe. For example, in 2025, bank staff at POSB foiled a daughter’s attempt to gain access to her elderly father’s savings account by noticing his unease and reluctance to add his daughter as a joint account holder.

Banks are also developing industry guidelines to better protect seniors from financial abuse by their loved ones, and plans to implement such enhancements from the second quarter of 2026.

Victims of financial abuse can also activate a “kill switch” on their bank accounts if their accounts have been compromised. This will allow their accounts to be frozen immediately to restrict further unauthorised transactions from taking place.

Social and community support

In certain circumstances, you may be unsure whether your scenario involves financial abuse. In such a case, you may want to first seek social and community support before taking legal action. However, we do suggest that you seek legal advice subsequently to decide whether legal steps need to be taken to protect a victim of financial abuse.

If you are going through family disputes at home – Family Service Centres (FSCs) provide emotional support through counselling, an assessment of your case through casework, and referrals to legal or protective services if your case requires it. Please visit this website for a list of FSCs near you.

If you require financial assistance – ComCare financial assistance provides support to those requiring financial assistance to meet basic needs like food, transport, and household bills. Please visit this website for more information on ComCare.

If you are a senior in need of support – Agency for Integrated Care (AIC) provides seniors and their caregivers with integrated support to live well and age gracefully. Please visit this website for more information on AIC.

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Financial abuse is a hidden but serious form of exploitation that often occurs behind closed doors, within families or relationships of trust. It involves the misuse or coercive control of a person’s financial assets. It affects not only seniors but also adults with disabilities, chronic illnesses, or those socially isolated and dependent on caregivers or their spouses.

The laws in Singapore provide multiple layers of protection and recourse through both criminal and civil avenues and are supported by social service and finance industry safeguards.

Because every case of financial abuse is different, professional legal advice is essential. A lawyer can assess whether the perpetrator’s conduct amounts to a criminal offence, recommend the most effective remedy (be it criminal prosecution or a civil suit), and coordinate with the MSF, the OPG, or financial institutions to protect the victim’s interests.

If you suspect that you or someone you know is facing financial abuse, you are strongly encouraged to seek prompt legal advice. You can obtain an affordable and confidential consultation through our Call A Lawyer service. Early intervention can make all the difference in stopping financial exploitation, recovering losses, and protecting vulnerable adults from further harm.