What is Financial and Economic abuse
Financial and economic abuse are both forms of domestic abuse and are ways of having power and control over you. It happens when someone else controls your financial freedom such as controlling your spending, access to cash and your assets.
Sometimes (but not always) financial abuse will be recognised by the police as coercive or controlling behaviour, which is also a criminal offence.
You do not have to be living with the person for the coercive or controlling behaviour offence to apply. Financial abuse can continue, or even start, after separation.
Financial abuse can take different forms and can happen to anyone of any age. Abusers can be partners, ex-partners, family members or others, such as carers.
What is Financial Abuse?
- Forcing you to withdraw money from your bank account or get credit in your name
- Making you hand over control of your accounts - including changing your login details for online accounts
- Cashing in your pension or other cheques without your permission
- Adding their name to your account(s)
- Pressurising you to change your will against your wishes
- Offering to buy shopping or pay bills with your money, but then using that money for a different purpose
- Making you prove what you’ve spent your money on
- Stopping you from accessing your bank, saving, loan or credit card accounts
- Controlling what you can spend your money on
- Setting up Direct Debits from your bank account/s to pay bills which aren’t yours or pay for goods and services that you haven’t bought
- Pressurising you to have your benefits or additional income paid into a bank account you don’t have access to
What is Economic Abuse?
- Stopping you from going to work, social groups or university
- Isolating you from your friends and family. Not letting you contact them by not allowing access to transport or stopping you from making or receiving calls
- Stopping you from spending your money
- Making it difficult for you to continue your education or employment, so you’re financially dependent on the abuser
UK.Gov website and Moneyhelper offers help and support if you or someone you know is experiencing domestic abuse.
We're here to help
We are here to help. If you think that you are experiencing financial or economic abuse, or if you know someone who needs assistance, listed below you will find helpful tips to help regain control of your money:
- Open a new account that’s in your name only
- Update your contact details, so that any information is only sent to you
- Help you understand how to securely amend and store password
We’ll do all we can do to support you and will clearly explain the options available to you. All our Relationship Centres offer a private room where you can discuss any concerns with our colleagues privately and confidentially. You can also call us on 0333 207 4007. Our lines are open 9am - 5pm Monday to Friday (10am - 5pm Wednesday).
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