Examining the factors that increase vulnerability to financial abuse to reduce its prevalence for at-risk groups
The problem
One in four women , and 1 in 13 men , has experienced domestic or family violence ( DFV ) by an intimate partner . Of those who seek support , 90 % are affected by financial abuse . Additionally , financial abuse is not restricted to intimate partner DFV .
Financial abuse is using money and resources to control a vulnerable partner or family member . Socio-cultural norms around finance and family harmony , such as gendered expectations and values of shared wealth , and language barriers can make abuse difficult to recognise and report .
Our solution
Understanding the factors that increase vulnerability to financial abuse will help reduce its prevalence , says Professor Jan Breckenridge , the co-convenor of UNSW ’ s Gendered Violence Research Network ( GVRN ). It will enable targeted practical responses to assist those impacted , particularly at-risk groups .
More on this story
Jan Breckenridge researches gendered violence and workplace responses , economic and financial abuse and coercive control , homelessness , and safe-at-home programs for women and children affected by DFV .
GVRN has an ongoing relationship with Commonwealth Bank , delivering staff training and developing its response to DFV since 2016 . Their current project , Economic and financial abuse – establishing the evidence base and role of financial institutions , raises awareness around groups at greater risk of financial abuse .
The project is part of the CommBank Next Chapter program which helps victim-survivors of financial abuse achieve financial independence . Its state-of-knowledge report series examines existing research and policy literature and assesses factors that increase vulnerability in : intimate partner relationships , First Nations communities , people from culturally and linguistically diverse backgrounds , people living with disability and older people .
Research insights will enable government , financial and community organisations to develop evidence-based policies and services to promote victim-survivors ’ long-term economic security . The project identifies the need for culturally appropriate and targeted financial literacy programs and plain language product descriptions .
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