Financial abuse is the most common form of elder abuse. Therefore, it is a major social problem for vulnerable older people. It is difficult to determine the prevalence of financial abuse because of the diversity of its definitions and methods used to collect the data in a particular study. Large number of unreported cases occurs as an additional problem because of shame of victims, fear of judgment or lack of information about available possibilities of protection. Women are more frequently victims of financial abuse than men. Elder people are in greater risk for abuse if they have cognitive impairment or if they are socially isolated with poor mental and physical health. The most common perpetrators of financial abuse are family members of abused elderly people, especially their adult children. Except them, perpetrators may be unknown persons and different institutions. They are specifically looking for the victim. Then perperators take complete control and power over the victim and her material means by establishing a undue influence. It is very little talk in public about financial abuse of elderly and victims are very poorly protected by law. A multidisciplinary approach of society and social institutions responsible for the protection of health, rights and interests of the elderly is necessary, in order to prevent the occurrence of financial abuse of the elderly and to provide victims with appropriate assistance and protection. Also, it is necessary to raise awareness of the moral duty of all citizens to report violence, in order to achieve timely and effective protection of persons who are exposed to such violence.