Financial takes different forms, here's what it can look like.
Financial abuse is a tactic often associated with family violence and can include withholding money from someone.
"It can happen to anyone no matter what their age, their cultural or socio-economic background is," said Caroline Wall, head of customer vulnerability at Commonwealth Bank.The report found that, in the three years since the bank launched a program to helpWho is most at risk of financial abuse? Rebecca Glen, the founder and CEO of the Centre for Women’s Economic Safety, said the more marginalised any individual is in Australian society, the more likely they are to experience this type of abuse.
"We also see a lot of coerced debt where someone is being pressured and either fearful for their life or the consequences of saying no will have to sign for a loan that they don't want or that they don't benefit from," she said. "What can happen with financial and economic abuse is that it can hide under the fact that in some cultures, it's not something you talk about, or that there are sort of gendered norms about who should manage money."Lordy Stewart is a financial counsellor with the National Debt Helpline, which also provides free support to people and access to an interpreting service.
"Gambling and addiction - there's an inter-relatedness between those and financial abuse. It's also a form of coercive control."Banks have become more aware of the issue of financial abuse, and many now provide specialised support services.
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