Surviving Economic News Today

The UK lags other countries in addressing the economic abuse issue, but insurers can make changes themselves

The UK government is following its pledge from this summer to tackle economic domestic abuse, by launching a free interactive tool for businesses and charities as part of the £12million support announ

Cases of economic abuse have increased by 150 per cent according to a leading charity, but it remains poorly understood.

The number of financial abuse cases is increasing and many are not sure what to do to get the help they need.

Her husband forced her to agree to a loan against her home. He was abusive and coercive. There were many police incidents. He took the money, spent it on his mistress, went on cruises, then died unexpectedly.

Financial abuse is a coercive tactic where money is used to control a partner. Women are more likely than men to be victims, but anyone can be affected.

Economic abuse is now formally recognised in law, yet most of us know very little about it and few employers currently have policies to address it.

Lloyds Banking Group is launching a new tool that will help to identify economic abuse, verify evidence of coerced debt and prevent such incidences from escalating further. The Economic Abuse Evidence Form has been developed together with Surviving Economic Abuse, a charity trying to tackle the problem. It comes as three in five domestic abuse victims have been forced into debt by their partners, according to data from SEA. The average debt per domestic abuse victim is £4,600 with a typical pe...