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Financial Abuse
Financial abuse is a form of domestic abuse where one person exerts control over another's financial resources, limiting their ability to access money, work, or economic independence. It is rooted in the abuser's desire for power and control over the victim. This type of abuse can be subtle and harder to detect than physical abuse but is equally damaging.
Key characteristics of financial abuse include:
- Controlling or monitoring spending, such as demanding an allowance or scrutinizing every purchase.
- Preventing the victim from working or sabotaging their job, which can lead to job loss.
- Taking or withholding money, including public assistance or paychecks.
- Restricting access to bank accounts, credit cards, or other financial assets.
- Controlling access to essential needs like food, clothing, shelter, or transportation by withholding money or resources.
- Using the victim’s property or money without permission, sometimes involving fraudulent actions like changing wills or obtaining power of attorney illegally.
Financial abuse often overlaps with economic abuse, which includes broader tactics like stopping someone from attending work or school, interfering with benefit claims, or controlling access to necessities. It is a common tactic in abusive relationships and can continue even after separation, leaving victims financially vulnerable and dependent on the abuser.
This abuse is a significant barrier to leaving abusive situations because it creates economic dependence and insecurity, making it difficult for victims to rebuild their lives independently.