What is financial abuse?

Financial abuse is where an abuser uses finances and money to control another person. It could involve withholding or concealing money, making all financial decisions without consent, or restricting the victim to work.

Financial abuse is a common way for an abuser to gain power in a relationship and those who experience financial abuse are also likely to become victims of other forms of abuse such as emotional, physical, and sexual abuse. Anyone can fall victim to financial abuse and the abuser could be a partner, carer, or family member.

The risk of financial abuse towards older people is also increasing. Visit our Elder Abuse webpage to learn more.

Keep your finances safe

Preventing financial abuse can be difficult. However, below are some preventative measures you can take to try protect yourself and keep your finances safe:

  • Ensure that anyone who has third party authorisations over your accounts is trusted. 
  • Don’t share your card PIN, app PIN or online banking password. If these details have been compromised, ensure you change them and keep the new passwords safe.
  • If you can, it’s important to check your bank accounts regularly and monitor for any unauthorised transactions
  • Never sign any legal documents that you don’t understand
  • Ensure you are up to date and able to recognise the latest financial scams
  • If posssible, have a discussion with someone you trust about concerns you may have
  • Ensure no one else has access to or is opening your mail or emails

Getting help and support

If you are in immediate danger, call emergency services on 000

If you are worried about your financial situation, please call us on 1300 747 747, send us a Secure Mail within Online Banking or alternatively:

Email: assistance@qudosbank.com.au
Fax: (02) 9582 3452
Mail: Qudos Bank, Locked Bag 5020 Mascot NSW 1460

External support services

Please contact one of the below organisations for free and confidential support

Help for families affected by relationship or separation issues

Family Relationship Advice Line
1800 050 32
8am to 8pm, Monday to Friday
10am to 4pm, Saturday

Crisis support

Lifeline
13 11 14
24 hours
Crisis Support Chat

Family violence, abuse and sexual assault counselling

1800RESPECT
1800 737 732
24 hours
1800RESPECT Online Chat

Family counselling, mediation and dispute resolution services

Relationships Australia
1300 364 277

More information about Financial Abuse

https://moneysmart.gov.au/financial-abuse

Can't find what you're looking for?

 

Contact us to speak with a Customer Service Specialist.

Customer-First Banking

Customer Feedback

Footnotes:

The information on this page is of a general nature and has been prepared without considering your objectives, financial situation or needs. Before acting on the information, consider its appropriateness to your circumstances.

1Evans, Ilsa. (2007). Battle-Scars: Long-Term Effects of Prior Domestic Violence.