A report has recently been released from Co-operative Bank and the charity Refuge in the UK about financial abuse. The report found that women are almost twice as likely to fall victim to financial abuse when they move in with their partner, and significantly more likely once they get married or have children. Although financial abuse can happen to all kinds of people. The elderly are another at-risk group.
These types of abuse were identified from the report, where a person suffers from financial abuse:
- Partners using money as a means of manipulation 55%
- Partners making significant financial decisions without consulting them 52%
- Having to ask permission or show evidence of spending 49%
- Partner taking financial assets without permission 47%
- Personal spending monitored or only allowed money for bare essentials 45%
- Partner putting debts in their name and being afraid to say no 41%
- Partner stopping or interfering with them going to work 41%
- Not being allowed to have their own savings account 35%
- Prevented from having access to a personal bank account 30%
Read more here.