What is financial abuse?

Financial abuse can look different for everyone, but it usually means someone is stopping you from having control over your own money.

This kind of behaviour can lead to serious financial problems – and it may be part of a wider pattern of abuse.

What is financial abuse?

Financial abuse happens when someone tries to stop you from having control over your finances. It's often used as a way to gain power over someone. Frequently, the person causing harm is someone close to you - like a partner, family member, friend, or caregiver.

Financial abuse includes:

• Taking your money
• Misusing your money
• Controlling your access to money
• Controlling what you can buy
• Connections to other kinds of abuse (in some cases)

Economic abuse is recognised under UK law as part of the Domestic Abuse Act 2021. This means it’s a crime and should be reported to police.

Anyone can face financial abuse

Some people are at higher risk of financial abuse - especially those who have experienced other forms of abuse, or people with learning difficulties, disabilities, or long-term health conditions. 

Watch for these warning signs

You might be experiencing financial abuse if someone:

• Gets credit cards or loans using your name without asking
• Forces you to give them control of your accounts
• Cashes your cheques without permission
• Takes money from your pension without asking
• Adds their name to your accounts
• Pressures you to change your will to benefit them
• Keeps you from seeing your family
• Prevents you from meeting friends
• Stops you from going to work, university, or classes
• Demands receipts for everything you buy
• Puts all bills in your name only

What to do if you notice signs of abuse

The National Domestic Abuse Helpline suggests the following steps:

• Keep a record of every incident with dates
• Report incidents to police or your doctor
• Create a safety plan in case you need to leave quickly
• Know where to find important documents like your passport, driver's licence, bank statements, and bills. If you can’t take these documents with you, try making copies of them or taking pictures of them on your phone.

How to get help

If you need to talk to someone about financial abuse, these organisations can support you:

• Women's Aid
• The National Domestic Abuse Helpline
• The Live Fear Free Helpline
• The Men's Advice Line
• The Mankind Initiative
• National LGBTQ+ Domestic Abuse Helpline

How to help someone else

If you think someone you know might be suffering financial abuse, reach out to them and make it clear that you’re someone they can talk to and trust. Create a safe space where you can talk in private.

If they do disclose anything, the first thing you should do is validate their disclosure. Fear of not being believed can cause major barriers when it comes to victims disclosing abuse. Don't judge them, and be sure to remind them they’re not alone. 

The next thing you should do is signpost them to places that can help, such as any of the websites listed above.

Don't rush them - give them time. It can be difficult to see someone you know suffering, but let them deal with it on their terms and in their own time. Recognising there is a problem is the first step.