What is financial abuse?
Financial abuse can be subtle, with a perpetrator gradually taking control over bank accounts and financial transactions. Financial abuse can also be obvious, violent and threatening. For example, someone may forbid their partner from working or spending their wages.
Signs of financial abuse
Financial abuse includes:
- someone taking complete control of finances and money
- restricting access to bank accounts
- providing an inadequate allowance and monitoring what their partner spends money on
- forbidding a partner to work
- taking a partner’s pay and not allowing them to access it
- preventing them from getting to work by taking their keys or car
- identity theft to secure credit
- using their credit card without their permission
- refusing to work or contribute to household expenses
In 2018, The Sydney Morning Herald reported on the prevalence of financial abuse and the push for legal reform.
Learn more about the other types of abuse.
What to do if you are experiencing financial abuse
If you are in an abusive relationship and would like to speak to someone, you can find help now.