What is financial abuse?

Financial abuse occurs when an abuser controls or restricts someone’s access to money and resources to gain power over them. It can happen in intimate relationships, families, or caregiving situations. While anyone can experience financial abuse, it is most commonly reported in cases of domestic violence, elder abuse, and caregiver exploitation.

Financial abuse can take many forms, including:

• Controlling money – The abuser may take away wages, benefits, or savings, leaving the victim financially dependent on them.
• Restricting access to financial resources – Preventing the affected person from having their own bank account, credit card, or cash.
• Interfering with employment or education – Stopping the affected person from working, forcing them to quit a job, or preventing them from attending school to keep them financially dependent.
• Accumulating debt in the affected person’s name – The abuser may take out loans, credit cards, or other financial obligations under the victim’s name without their consent.
• Forcing financial decisions – Pressuring the victim to sign documents, make purchases, or give them money.
• Stealing or withholding resources – Taking income, property, or valuables from the victim without permission.
• Threatening financial security – Using money as a tool of coercion, such as threatening to cut off financial support or reporting the victim to authorities to prevent them from accessing assistance.

The Consequences of Financial Abuse

The impact of financial abuse goes beyond money—it affects a person’s mental, emotional, and physical well-being. Some common consequences include:

• Loss of independence – Affected persons may feel trapped in abusive relationships because they have no access to money or resources.
• Emotional and psychological distress – Constant financial control can lead to anxiety, depression, and a sense of helplessness.
• Homelessness and poverty – Without financial stability, many affected persons struggle to find safe housing or meet basic needs.
• Limited future opportunities – Those prevented from working or pursuing education may face long-term challenges in rebuilding their lives.
• Increased risk of further abuse – Financial dependence can make it easier for the abuser to continue exerting control in other ways, including physical or emotional abuse.

You Are Not Alone – Support Is Available

If you are experiencing psychological abuse, know that you deserve safety, respect, and support. Help is available from the Danish Refugee Council, including:

• Social work support and safety planning
• Counselling and therapy for emotional healing.
• Legal resources if you need protection or intervention