18 Feb Financial abuse: the warning signs many women don’t recognise until it’s too late
Financial abuse is one of the most common — and least recognised — forms of domestic and family violence. It often hides in everyday money decisions, quietly stripping women of independence, safety and choice.
Experts from UNSW Sydney say financial abuse is frequently invisible — even to the person experiencing it — until a crisis forces finances into the open.
Financial abuse involves behaviours that control, restrict or manipulate access to money and financial information. This can include bank accounts, wages, debts, tax returns, superannuation, utilities or business records. It is a form of coercive control that limits a person’s ability to make decisions or access their own resources.
It’s estimated to affect more than 2.4 million Australians and cost the economy close to $11 billion each year.
“Financial abuse can occur both before and after separation, which means it is an ongoing risk in the context of domestic and family violence,” says Professor Jan Breckenridge, Head of the School of Social Sciences at UNSW and Co-Convener of the Gendered Violence Research Network.
The warning signs of financial abuse
Financial abuse often occurs alongside emotional or psychological abuse and can escalate gradually. It is also a key feature of elder abuse, where older people may be financially exploited by a trusted family member or carer.
According to Professor Breckenridge, warning signs may include:
- Not knowing details of personal or shared finances
- Being denied access to bank accounts, passwords or financial records
- Having wages, benefits or savings controlled by someone else
- Being forced to justify spending or ask permission for everyday purchases
- Being listed as a company director or business owner without consent
- Being locked out of a myGov account or having tax refunds used without permission
- A partner failing to lodge tax returns or manipulating income reporting
- Insurance, utilities or financial arrangements changed without knowledge
“There may not always be clear red flags — to others or even to the victim — until a related crisis occurs,” Professor Breckenridge says.
When financial abuse emerges at tax time
Financial abuse is often uncovered during tax preparation, audits or debt recovery, when missing records or unexplained liabilities come to light.
UNSW Business School’s Professor Ann Kayis-Kumar, Founding Director of the UNSW Tax and Business Advisory Clinic, says this can be deeply confronting.
“It can be overwhelming to discover financial abuse — and then realise the Australian Taxation Office is pursuing you for debts you didn’t even know existed,” she says.
In abusive relationships, perpetrators may control access to accountants, hide assets, shift debts, or use tax and business systems to block access to money. In some cases, victim-survivors are pressured to sign documents or legal arrangements without fully understanding the consequences.
Research led by Professor Kayis-Kumar has shown how tax and transfer systems can be misused as tools of control — including through the misuse of tax file numbers, business structures and refund mechanisms.
What to do if you recognise financial abuse
Once financial abuse is identified, understanding exposure to debt and financial risk is critical — particularly where tax, banking or welfare systems are involved.
“An important first step is to understand your financial circumstances and liabilities,” Professor Breckenridge says. “That may require support from specialist financial or legal services experienced in domestic and family violence.”
Many banks, utilities, insurers and government agencies now have protocols to assist people who disclose financial abuse. For those in immediate danger, safety should be prioritised, including confidential advice and exit planning.
Professor Kayis-Kumar recommends contacting the Australian Taxation Office directly — when it is safe to do so — if tax issues are involved. The ATO now recognises financial abuse under its Vulnerability Framework and offers specialist support, including:
- ATO Emergency Support Infoline:1800 806 218
- ATO Indigenous Helpline:13 10 30
You’re not alone
For many women, financial abuse only becomes clear after separation or when debts surface.
Recent reporting by ABC News has shown how women often discover hidden debts and financial entanglements only after leaving abusive relationships, revealing the financial cost of starting again.
👉 The cost of leaving: How financial abuse keeps women trapped
Similarly, SBS News has reported on the long-term “financial chasm” many women face as they rebuild independence years after physical safety is secured.
👉 Addressing the financial chasm left by domestic violence
Where to get help
Specialist services can assist with financial abuse involving shared accounts, loans, tax issues or joint liabilities:
-
- National Debt Helpline: 1800 007 007
- Financial Rights Legal Centre
- Financial Abuse Toolkit or 1800RESPECT
If this article has raised concerns about your safety or wellbeing, you can contact
- 1800RESPECT or
- Lifeline on 13 11 14 for confidential support.
