Financial Abuse
Financial abuse is a means of controlling someone through deprivation of resources. Financial abuse can also be called economic abuse; economic abuse is when a victim’s access to economic resources is controlled, for example, restricting your ability to find employment or preventing you from studying . In the absence of resources, it can be extremely difficult to leave an abusive relationship and envisage a life beyond abuse. Financial abuse can be the control of liquid assets (e.g. your wages) or equity (e.g. your house). This can be further complicated if you have children.
It is a myth, and a dated view, that men automatically have the resources to leave an abusive relationship as men are traditionally the breadwinners or providers. Not many people can afford to leave an abusive relationship and pay for a new place to live, while also continuing to pay towards the family home and/or their (ex)partners lifestyle. Financial abuse is recognised as a crime under the Domestic Abuse (Scotland) 2018 Act.
What could financial abuse look like?
- Asking you to explain and justify everything you spend
- Manipulation of the Child Maintenance Service – the CMS is often criticised for its complex nature, rigid rules and inadequate enforcement, leading to situations where payments may not actually reach the child or are used as leverage in custody disputes.
- Expecting you to tell them and ask for their permission about spending money on basic items
- Accessing and controlling your everyday banking
- Having access to your online banking and restricting your own access to it
- Withholding your debit cards and credit cards, using your bank cards for themselves, changing your pin without your consent
- Not being included or considered in financial decisions.
- Such as taking out credit or loan agreements,
- taking out your cash whether in Sterling or foreign money in an amount they decided themselves,
- buying large purchases with your money.
- Setting up subscription services with your bank details.
- Forging your signature on financial documents and agreements
- Hiding financial and other important documents that concern you
- Expects, insisted or wants you to give them your income whether it is your salary or benefit payments
- Limited your access to your bank accounts and insisted to be added on to your accounts such as joint accounts
- Abusing joint account funds such as using it all and leaving little for yourself
- Restricting your way of living such as going to education, volunteering, your work or spending on everyday essentials and necessities
- Sabotaging your employment progress or ability to find employment
- Forced you to put all the bills and expenditure on your name alone
- Refusing to contribute to family financial expenditure when they are able to
- Forced you to take out credit cards or loans, or other credit agreement means, in order for them to use it on themselves
- Securing loans against your house without your permission
- Making you submit fraudulent benefit claims or tax returns and using this to blackmail you
“They told me I was bad with money so they should manage my accounts. I wasn’t allowed to know any of my online banking details. I was given a weekly allowance and had to account for every penny I spent. She had access to all my bank statements and accounts. I didn’t know anything about her finances”
How your bank can help
- Assist with joint accounts and removing the abuser,
- Help open a personal account for you,
- Support with debt and lending and credit agreements,
- Sending communication to a safe address if possible
- A specialist team to support you
- Limit sending mail, or to a safe address
- Opening new accounts
- Cards and PINS and passwords
- Joint accounts
- TSB’s Flee Fund where they give domestic abuse victims up to £500 to pay for essentials to make leaving possible, and you wouldn’t need to pay it back
- Send documents and cards to a safe address
- Help you open accounts in your sole name with a non-location sort code
- Review any joint accounts with your abuser
- Help change your login details for online banking
- They recognise it is difficult sharing your story so you would only need to tell them it once
- Part of the “tell us once” campaign
- Safe spaces
- Resetting passwords, changing cards and PINs
- Exploring options with joint accounts
- Setting up personal current or savings account
- Sending your bank statements to a different address
- Helping you deal with debts
- They can call you on a private number at a time you choose as safest and with a code phrase, when you fill out their form asking to do so
- Safe spaces
- They can contact you at a time you choose as safest when filling out their form asking to do so
Need support? Call our free and confidential helpline.
