Financial harm doesn't always come from strangers
When people think about fraud, they usually picture a criminal they've never met. But financial abuse is often carried out by someone the person knows well:
- Family members
- Partners
- Friends
- Carers
- Someone in a position of trust
Financial abuse means someone controlling, exploiting or misusing another person's money for their own benefit.
What can financial abuse look like?
It can include:
- Pressure to transfer money
- Pressure to share account information
- Being made financially dependent on someone else
- Someone using your accounts without permission
- Pressure to send money repeatedly
- Someone restricting your access to your own finances
- Manipulation during a vulnerable moment
It doesn't always happen suddenly. Often it builds gradually, over time.
Older customers can be at greater risk
This can include:
- Pressure from family members
- Impersonation scams
- Romance scams
- Investment scams
- Coercive behaviour
If you're concerned about yourself or someone you care about, support is available.
If something doesn't feel right
Financial abuse can be hard to recognise, especially when it involves someone you trust. You don't need to be certain before asking for help.
If you feel pressured or controlled about your money, talk to someone you trust and let us know your concerns.
Key takeaway
Financial abuse isn't always obvious, and it isn't always a stranger. Support is available if you need it.