Banking code out to curb financial abuse

More support for victims in regainingcontrolofmoney

which they then spent, or preventing them from working and earning money.

“The consequences of economic abuse are devastating. Over a fifth of Refuge service users said that as a result, they were unable to buy food for themselves and their children, over a third were unable to buy nonfood essentials, more than a quarter had problems with debt and over one in 10 had been made homeless.

“The Code of Practice is a huge step forward in recognising both the immense scale of economic abuse and the vital role the banking sector can play in protecting victims.”

Financial abuse can be between partners in intimate relationships, from family members or carers. It is a way of controlling a person’s ability to acquire, use and maintain their own money and financial resources.

It includes people stealing money from a partner or family member or a person they are caring for, preventing a person from accessing their own/joint

Abuse includes stealing money from a family member or putting debt in their name