Financial Crime World

Addressing Economic Abuse: A Holistic Approach

Economic abuse is a pervasive issue that affects women and families worldwide. It’s essential to recognize economic abuse as a form of abuse in its own right, rather than just a subset of psychological abuse. In this article, we’ll explore the report’s recommendations for addressing economic abuse through a holistic approach.

Recognition of Economic Abuse

  • Recognize economic abuse as a standalone form of abuse: Economic abuse should be acknowledged and addressed separately from other forms of abuse.
  • Understand its impact: Economic abuse can have severe consequences, including financial instability, loss of independence, and increased risk of violence.

A ‘No Wrong Door’ Approach

  • Access to information and support: Women affected by economic abuse should be able to access information and support through various touch points, such as:
    • Universal services (e.g., healthcare, education)
    • Financial institutions
    • Police
    • Legal or court interactions
    • Housing services
    • Family violence services
    • Culturally specific services
  • Streamline access to support: A ’no wrong door’ approach ensures that women can easily find the help they need, without being redirected or having to navigate multiple systems.

Involving Lived Experience

  • Consultation and co-design: The report emphasizes the importance of continuing to draw on the lived experience of women and others affected by economic abuse.
  • Trialling new initiatives: Local areas should support trialing new initiatives, using flexible approaches to highlight legal and service response gaps and remedies.

Interpersonal and Community Responses

  • Building community awareness: Building financial and relationship awareness in communities can help prevent economic abuse.
  • Involving people with lived experience: People affected by economic abuse should be involved in developing information and providing it through various channels.
  • Focusing on underserved communities: Economic abuse disproportionately affects marginalized communities, so it’s essential to focus on these groups.

Universal Support Services

  • Capacity building for ‘first contact’ services: Services that provide initial support should be capacity-built to ensure they can effectively respond to economic abuse.
  • Peer-to-peer supports: Providing peer-to-peer supports can help women feel more comfortable discussing their experiences and receiving advice from someone who understands.

Structural Responses

  • Cross-sector awareness training: Training for staff across different sectors (e.g., healthcare, education) on awareness, identification, and responses to economic abuse is essential.
  • Legal aid: Ensuring access to legal aid can help women navigate the justice system and seek protection from economic abuse.
  • Data collection: Collecting data on economic abuse is crucial for understanding its prevalence and developing effective responses.

System Review

  • Reviewing joint account and debt initiation and recovery processes: This review should include:
    • Utilities
    • Telecommunications
    • Fines
    • Financial institutions
    • Tenancies
    • Schools
  • Training for relevant agency staff: Training should focus on awareness, identification, and responses to economic abuse.
  • Increasing and strengthening housing responses: Safe at Home programs can help women feel safer in their own homes.

Collaborative Practice

  • Cross-sector consultative approaches: Building on cross-sector consultative approaches is essential for supporting recovery from family violence and economic abuse.
  • Research and data collection: Ongoing research and data collection will help identify gaps and recommended improvements in responding to economic abuse.