Victims of financial abuse suffer from impacts years later as elderly people particularly at risk, say organisations

Economic abuse where a partner or family member controls a person’s finances or uses their money is classed as a form of domestic abuse.

A joint report by women’s charity Refuge and Co-operative Bank found that, on average, a survivor of domestic abuse who is left in debt owes £3,272 as a direct result of economic abuse, with many victims seeing an impact on their credit ratings later in life.

The report also revealed that nearly a quarter (24 per cent) are left with debts of more than £5,000, whilst 26 per cent end up with a negatively impacted credit rating.

Domestic abuse victims who are subjected to financial control can be left with damages to their finances for years after, research claims

A Yorkshire domestic abuse organisation said financial abuse can also make it even harder for victims to leave their abusers.

A spokeswoman for York-based Independent Domestic Abuse Services (IDAS) said: “We have supported people who have had to show every single receipt to prove where every penny goes and where they have been and at what times.

“Often survivors are left with crippling debt when they leave the relationship and find it difficult to start a new life.”

One in four survivors (27 per cent) struggle financially due to economic abuse and 21 per cent will face debts that they are unable to repay, the research found.

A recent West Yorkshire Police campaign highlighted that older people were at particular risk from economic abuse, and that this can be perpetrated by friends and relatives as well as partners.

A typical example would be when a younger member of the family controls the older victim into giving them money, such as only ever visiting on pension day.

Domestic incidents involving theft amounted to eight per cent in the over 65s with the most common relationship for incidents involving people in this age category being sons, at 32 per cent.

Lisa King, from Refuge, said: “The long-term impacts of debt as a result of economic abuse should not be ignored – and action needs to be taken to ensure women are able to rebuild their financial stability and gain economic independence following abuse.”

Elderly people can be particularly vulnerable to financial abuse

The spokeswoman for IDAS added: "Economic abuse can come under coercive and controlling behaviour legislation which was brought in in 2015.

"The proposed domestic abuse bill will include economic abuse in the statutory definition of domestic abuse, making it easier to prosecute it as a crime. We would urge anyone who is concerned that they are affected by domestic abuse to get in touch with us for support.”

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