Powerful Aussie voices lend support to new campaign designed to end financial abuse

This sneaky form of abuse costs Australians more than $5 billion, making it more prevalent and dangerous than scams. Now powerful voices say it’s time to ditch the taboo.

EXCLUSIVE

Big name comedians and musicians have thrown their support behind a campaign aimed at stamping out the insidious, yet often “taboo” subject of financial abuse.

Research shows more than 40 per cent of Australians have been subject such abuse or know someone who has, while three quarters struggle to talk about it.

And the annual economic impact of financial abuse is $5.2 billion – $2.1 billion more than scams, according to a Deloitte report.

Eager to raise awareness, and start sensitive conversations, Rosie Waterland, Tanya Hennessy, Jamila Rizvi and Clare Bowditch have join a new campaign called TALK, in partnership with CommBank and Future Women.

Comedians Rosie Waterland and Tanya Hennessy have joined the TALK campaign. Picture: Supplied

General manager of lived experience and co-production at not-for-profit Good Shepherd, Lula Dembele, is a survivor advocate and she said financial abuse can take many forms.

Some perpetrators might prevent the victim from working, or take all their income.

Others might give their partners an “allowance” and demand justification for every dollar, or restrict access to money by draining joint bank accounts or cancelling debit or credit cards.

Then there are those who rack up debts in the victim’s name, leaving them financially crippled, or start companies in the victim’s name without letting them know and running those companies into the ground.

“It’s not always obvious. Combining abuse, which people feel really ashamed about, with money, which is something we’re told not to talk about – it’s a very difficult corner in someone’s mind to reach into, because there’s taboo,” Ms Dembele said.

The worst part is survivors can’t escape these situations through physical distance alone.

Lula Dembele, a survivor-advocate, said financial abuse can be subtle. Picture: Supplied

CommBank’s Angela MacMillan said it can happen to anyone, at any time. Picture: Supplied

It’s not just difficult to escape a dangerous situation without financial resources; crushing debts follow survivors everywhere – making it difficult to rebuild a life.

CommBank group customer advocate Angela MacMillan said financial abuse can happen to anyone at any time, regardless of their socio-economic position or financial literacy.

“Australians don’t like to talk about money, people can feel uncomfortable talking to major institutions like banks – it can be really overwhelming,” she said.

The bank launched its Next Chapter program in 2020, which helps all Australians – regardless of where they bank – access support services and regain their financial independence.

The first port of call is the specialist trauma-informed team, who can assist with crisis support and link people to services to help them get back on their feet, including earning income, managing bills and debt, building savings, and referrals for other services.

“We are there to listen, we are there to provide support. We really try to take the blame out of the situation, we don’t want victim-survivors to think they’ve done anything wrong,” Ms MacMillan said.

TALK

• Trust your instincts, don’t ignore red flags.

• Ask openly and gently, follow up on signs.

• Listen actively, don’t jump to conclusions.

• Know the support that is available.

If you or someone you know is in immediate danger, call Triple Zero (000).