Financial abuse comes in many different forms, often between couples, family members or carers. It might be financial control, exploitation or even sabotage and could happen to you or to someone you know.
Financial abuse is a not a new phenomenon, but recent events including the Covid-19 pandemic have bought it into sharp relief. The sad truth is that 2.3 million adults aged 16 to 74 experienced domestic abuse in the year ending March 2020 and one in six women in the UK has experienced economic abuse by a current or former partner.
We are committed to supporting consumers who may be at risk of financial abuse and will offer practical support in accordance with the principles of the code.
UK Finance has worked with several banks and building societies to create a leaflet about financial abuse. This leaflet contains more information and examples of financial abuse, details of how we can help and lists other organisations that can support you.
The leaflet can be found on the UK Finance Website – It’s Your Money.
You can find more information about the code on the UK Finance Website – Financial Abuse Code.