Coercive control isn’t always loud or aggressive. It often whispers through bank statements, denied purchases, and withheld pay checks. It’s the partner who insists on “managing all the finances” but leaves you with no access to bank accounts. It’s the spouse who criticises every cent you spend, making you second-guess your own needs. Over time, this constant control creates a dangerous dependency, leaving victims feeling powerless and stuck.
Financial abuse is part of a suite of behaviours that include coercive control as the underlying dynamic. It’s not about money—it’s about power. By limiting access to financial resources, abusers tighten their grip, making it nearly impossible for victims to leave, plan for the future, or even meet basic needs.
Research shows that approximately 1 in 4 women and 1 in 13 men have experienced at least one incident of violence by an intimate partner (ABS, 2016 Personal Safety Survey).
Among those who seek help for domestic and family violence, up to 90% are also affected by financial abuse
(Adams et al., 2008). These statistics highlight just how common—and devastating—this form of abuse can be.
If you or someone you know is in immediate danger always call 000.
For 24/7 confidential counselling and support, contact 1800 RESPECT. Many banks also have dedicated support teams trained in responding to financial abuse—reach out to your bank to explore your options.
Consider using a safe or private device and be aware that some websites provide a quick exit button for your safety.
The following three stages of financial abuse are crucial to recognise, as they reveal how control is gradually established, deepened, and used to trap victims in financial dependence.
At first, financial control may seem like care. An abuser might insist on managing all the money, suggesting it’s for the sake of efficiency or shared responsibility. They may encourage joint accounts but subtly shift access away from their partner. This stage often feels harmless, even reassuring—but it lays the foundation for control.
Common banking-related tactics at this stage include:
- Restricting account access: Removing a partner’s name from shared accounts or withholding login information.
- Isolating financial decision-making: Ensuring all financial communication is directed solely to the abuser.
- Creating financial dependency: Convincing a partner to quit their job or avoid independent income streams.
Once access is controlled, abusers begin tightening financial restrictions. What started as “helping with finances” becomes surveillance, micromanagement, and sabotage. Victims may suddenly find themselves without money for personal expenses or unable to access financial services without their abuser’s involvement.
Tactics include:
- Surveillance through banking apps: Monitoring every transaction and demanding explanations.
- Sabotaging employment: Interfering with a partner’s job through excessive calls, unexpected disruptions, or withholding transportation funds.
- Destroying creditworthiness: Taking out loans or maxing out credit cards in the victim’s name, ruining their financial standing.
- Unauthorised financial control: Forging the victim’s signature, making withdrawals or transfers from their accounts without their knowledge, or using their credit card without consent.
- Financial concealment: Cancelling or hiding bank statements to prevent the victim from seeing their financial status.
- Misuse of essential funds: Redirecting money meant for rent, bills, or necessities toward other personal expenses.
- Coerced consent: Forcing the victim to sign financial or legal documents they don’t fully understand or weren’t given time to review.
By this stage, the victim is financially trapped. They may have no access to money, no independent credit, and no knowledge of household financial affairs. Even considering escape feels impossible without financial means to support themselves.
Common financial constraints imposed include:
- “Allowance” systems: Giving the victim a small, controlled amount of money while hoarding the rest.
- Debt entrapment: Forcing the victim into joint financial obligations that make it harder to leave.
- Legal manipulation: Using financial dependence to threaten legal battles, such as withholding child support or controlling legal assets.
Escaping financial abuse requires strategic intervention and support from financial institutions. Banks play a critical role in preventing and mitigating economic coercion.
How banks can help:
- Implement Financial Safeguards: Offer confidential financial services and secure accounts that abusers cannot access or monitor.
- Provide Education & Awareness: Ensure victims understand financial rights, safe banking options, and credit restoration strategies.
- Create Escape-Focused Banking Solutions: Offer emergency funds or small loans to those seeking to leave coercive situations.
- Improve Coercion Detection: Train staff to recognise financial abuse patterns, such as sudden account removals, unusual transaction restrictions, or coerced withdrawals.
- Support Legal & Advocacy Networks: Partner with domestic violence organisations to provide discreet financial assistance and guidance.
Reclaiming Financial Freedom and Escaping Coercive Control
Coercive control thrives on financial restriction, manipulation, and dependency, making it a truly insidious form of abuse.
By recognising the three stages of financial abuse, you can identify the warning signs, take action, and regain control over your own future.
Links & Resources
We provide specialist support services for anyone in Victoria who is experiencing or afraid of family violence.
1800RESPECT is available for free, 24 hours a day, 7 days a week to support people impacted by domestic, family or sexual violence.
National Debt Helpline is a not-for-profit service that helps people tackle their debt problems. Their professional financial counsellors offer a free, independent and confidential services.
Call triple zero (000) if the situation is serious and urgent. You should call triple zero (000) if: someone is seriously injured or needs urgent medical help your life or property is being threatened or in danger.
Lifeline 13 11 14, is a National charity providing all Australians experiencing emotional distress with access to 24 hour crisis support and suicide prevention services. darkest moments alone.
