Financial abuse
What is financial abuse?
Financial abuse is when someone controls, takes or misuses another person’s money, accounts, property or financial resources without their informed consent. It can involve pressure, threats, deception or misuse of a position of trust.
It can also involve restricting someone’s access to their own money or banking, leaving them without enough money for essentials such as safe housing, food or healthcare.
Financial abuse can affect anyone. The person responsible may be a partner, family member, friend, carer, attorney or another trusted person. It may happen gradually and can be difficult to recognise, particularly when it involves someone you know or rely on.
Financial abuse can take many forms, including:
- Misuse or theft of money, bank accounts, cards or assets.
- Pressure, manipulation, or coercion to give money or change financial arrangements.
- Forging signatures or misrepresenting documents.
- Misuse of a Power of Attorney, financial management arrangement or other authority. Learn more about Power of Attorney and Financial Management Orders.
- Forcing or pressuring someone to change their Will, beneficiary details, account ownership or other financial arrangements.
- Pressuring someone to take out a loan, provide a guarantee or take on debt for another person’s benefit.
- Using banking transactions, payment messages or financial arrangements to harass, intimidate, pressure or control another person.
- Financial abuse may also occur as part of domestic or family violence. Find out more about our domestic and family violence support.
Warning signs
It can be hard to recognise financial abuse, especially when it happens gradually or involves someone close to you. You or someone you know may be experiencing abuse if:
- There are unexplained withdrawals, transfers, or changes in account activity.
- Someone else is controlling access to your money, cards, or online banking.
- You feel pressured, intimidated, or guilty about giving or lending money.
- You are asked to sign financial documents you do not fully understand, or your signature is being used without your permission.
- A Power of Attorney or trusted person is acting against your wishes or best interests.
- You are being isolated from family, friends, or financial information.
- You rely on others for access to banking and feel unable to make independent decisions.
- Bills or essential expenses are not being paid despite sufficient funds being available.
- You or someone you know is worried about another person's involvement in, or control over, their money or financial decisions.
- Someone uses money, banking services or financial decisions to pressure, intimidate or control you.
- Someone routinely speaks on your behalf when dealing with financial institutions against your wishes, or controls conversations about your finances.
How we can help
If you are worried that you or someone else may be experiencing financial abuse, contact us as soon as it is safe to do so. Anyone can raise a concern with us. However, privacy, security and authority requirements may limit the information we can share or the instructions we can accept from someone other than the customer.
We will listen to your concerns and explain the options available. Depending on the circumstances and your authority over the account, we may be able to:
Note: The options available will depend on the circumstances, the authority held over the account and applicable privacy, security and legal requirements.
We will treat your concerns with care and respect and handle your information in accordance with our Privacy and Credit Reporting Policy. We may use or disclose information with your authority, or where the law allows or requires us to do so.
Support is available
If you are in immediate danger, please call 000
If you are experiencing a personal crisis or need immediate emotional support, contact lifeline on 13 11 14.
Additional support:
If disability, illness, language, literacy or communication needs make it harder for you to contact us or manage your banking, let us know. We can discuss the support and communication options available.