Economic Abuse

The Financial Abuse Code of Practice was introduced last year. Signatory banks and building societies have been putting measures in place to help recognise financial abuse and take practical steps to help victims. These include:

• Providing you with information about joint assets
• Providing support in relation to debts including reviewing fees and charges
• Changing passwords and access codes on your sole accounts
• Opening bank accounts with a non-geographical sort code so that your location cannot be determined
• Removing one party from a joint account which holds no funds
• Writing to a different address
• Talking to a representative on your behalf
• Making referral to other agencies who can support you

Economic abuse can take many forms including controlling income, controlling expenditure, putting bills in the victim’s name, refusing to contribute to household expenses. While more needs to be done to address this issue, your bank or building society should be able to provide practical assistance so do talk to them. You can also take advice from your solicitor and support from organisations such as Surviving Economic Abuse

At Family Law Associates we can provide you with tailored advice about your options and how best to protect yourself so please get in touch to find out how we can help you.