It’s morally corrupt. And it’s happening to one in six women

It happens behind closed doors or online and, often, doesn’t break any laws. This is why financial abuse is a particularly insidious form of domestic violence. And why you may not know it impacts one in six – or 1.6 million – Australian women. That is, according to ABS data from the 2021-22 financial year.  

“It’s manipulative, it’s ethically and morally corrupt. But not all financial abuse is criminal or illegal,” says leading expert Professor Jan Breckenridge, speaking on the FW podcast There’s No Place Like Home. 

“That makes it very difficult, because people aren’t aware of the range of circumstances that can happen with their finances [which can] really affect them adversely. It’s very hard… to distinguish between what might be just poor financial management in a relationship – or very strongly gendered financial management – and what is abuse.”

Over the coming months we’ll give you some clarity on this common form of domestic violence and coercion, which reportedly cost Australians $5.7 billion in 2020 alone. 

By sharing voices from victim-survivors and professionals in the space, our Behind Closed Doors series will help you learn what financial abuse can look like, how to identify signs and, crucially, where to find support. 

Mary* had endured almost two decades of abuse when she stepped into her local CommBank branch and was connected with CommBank Next Chapter, a program helping victim-survivors to build financial independence.

“I can see a light at the end of the tunnel. Thanks to the support I’ve received, I finally feel stronger and able to smile again.”

Since 2020, in partnership with Good Shepherd – a not-for-profit tackling issues impacting women, girls and their families – Next Chapter’s Financial Independence Hub has supported almost 11,000 people. 

For Mary, this was a lifeline.

“I can see a light at the end of the tunnel,” she says. “Thanks to the support I’ve received, I finally feel stronger and able to smile again.” 

The CommBank Next Chapter team provides free and confidential support and access to a range of services for Australians of any gender, regardless of who they bank with. The specialised Next Chapter team is trained to recognise red flags because, as Professor Breckenridge highlights, financial abuse can be hard to detect – even by those experiencing it.   

“The more we talk about it, the more people start to recognise that they have a right to have control over their finances, to know what their financial circumstances are,” says Professor Breckenridge. 

“The more we start saying these behaviours are wrong and we highlight for both the person affected and the person perpetrating that it’s not okay, the better.” 

Awareness is the first step. 

If you or someone you know needs help, call 1800RESPECT. In an emergency, always call 000. 

*Name has been changed