Manipulating an ex-partner financially online could soon lead to bans as more than 20 businesses move to update their terms and conditions in a pledge to better support victim-survivors.
He had broken into her frequent flyer account to find out the plane and seat number, and upon boarding, threatened to take her to court until she was "left with nothing".After separating in 2005, the 50-year-old businesswoman and author said she was stalked, harassed and intimidated for 12 years straight.
Now, Ms Archbold shares her story so she can help empower others to recognise and address their own financial abuse experiences.Adviser, social entrepreneur and academic Catherine Fitzpatrick said financial abuse was a "hidden epidemic" where many people don't realise they're experiencing it until it's too late.
In addition to banking, Ms Fitzpatrick has seen examples in insurance, energy and water companies and telecommunications with shared internet or phone accounts. "What that means is that, unfortunately, businesses might inadvertently enable financial abuse for now, because their products haven't anticipated ways they could be weaponised."Misuse of products and services for groups including ANZ, the University of New South Wales and Optus, could soon lead to being permanently banned after a warning.
"Ask your bank, your utility provider, your insurance company where they stand on financial abuse ... we want every business in Australia to say financial abuse is not acceptable."
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