Financial abuse often goes unnoticed, even though it can be considered one of the most damaging forms of domestic abuse. It happens when one person controls or restricts another’s access to financial resources, often in ways that limit their independence or prevent them from leaving an unsafe situation.
TD Bank has been working with the Grameen Foundation, a non-profit organization dedicated to helping move women and families out of poverty, the American Bankers Association (ABA) Foundation and other institutions to create educational resources on financial abuse.
“Even if victims have earned their own income or accumulated substantial savings, an abusive partner or someone with ill intent who may work to earn their trust can ultimately monitor how they spend their money, prevent their access entirely, or otherwise sabotage their finances,” said Bobbi Gray, Associate Vice President at the Grameen Foundation. “This can happen in-person, over the phone, or online.”
In some of the most harmful scenarios, abusers might open credit cards or take out loans in their partner or family member’s name without permission. “Indebting a person without their knowledge can be one of the most damaging kinds of financial abuse by undermining their creditworthiness and obligating them to pay off the card balances or loans,” she said. “Of course, another form of this abuse is simply draining a victim’s financial accounts by gaining access to them or having the victim transfer funds to their abuser’s account.”
Because financial abuse doesn’t always involve physical harm, it’s often hard to recognize, even by its victims. That’s because intimate relationships, family members, or caregivers all can easily hide the misplaced trust of those who are being abused.
It’s more common than you think
According to the U.S. Centers for Disease Control and Prevention (CDC), an estimated 41% of women and 26% of men have experienced physical violence, stalking, or sexual violence from an intimate partner at some point in their lives. The National Network to End Domestic Violence (NNEDV) cites research that financial abuse occurs in 99% of domestic violence cases.
“We don’t know the true rates of financial abuse because it can occur in relationships without other forms of abuse that people might typically seek help for," Bobbi said.
Part of the issue, she explained, is that financial abuse was long categorized under broader terms like psychological or emotional abuse. “Until about 10 years ago, it was kind of tucked into other types of domestic abuse,” she said. “Experts defined it under psycho-social abuse or psychological abuse.”
Today, as domestic financial abuse gains greater recognition as a standalone form of abuse, advocates are working to educate the public and help survivors rebuild their financial independence.
"TD Bank recognizes its important role as a bank to educate customers and communities," said Mandy Kelso, Head of Financial Education at TD Bank. "We’re dedicated to helping victims of financial abuse rebuild their credit, protect their identity, and forge a path of financial wellness and empowerment."
How to recognize the signs
Abusers use a wide range of tactics to gain and maintain financial control. Some limit access to joint accounts, passwords, or online banking tools. Others track spending or funnel household debt into the victim’s name.
Technology has added new complications. “For example, the abuser will send really small payments that include threatening messages to a person,” Bobbi said. “This type of abuse can happen even after someone has exited an abusive relationship.”
For those on the outside, financial abuse can be difficult to recognize, but there are some common red flags.
"When someone appears to have no capacity to freely make financial decisions without permission from a partner or other family or does not have access to or does not know how to access their own financial accounts, these can be signs of financial abuse," Bobbi said. "Another is when someone is required to deposit their money into their partner's or a joint account and receives an allowance or 'spending money', even if they earn their own income."
Isolation from friends or family is also common in abusive relationships, she noted, and can signal financial coercion, which occurs in nearly all domestic abuse cases.
How to help someone who may be a victim
If you suspect a loved one is being financially abused, start by listening without judgment. Don’t pressure them to act before they’re ready as it could increase the risk of further abuse and coercion. Instead, create a safe space for an honest conversation and offer to help them explore their options.
Bobbi emphasized that financial abuse could persist long after the victim leaves the relationship. “Someone can continue to be exploited or controlled even after they’ve exited,” she said, “because someone still has access to their information—like passwords or social security numbers.”
In many cases, helping someone regain financial safety involves small, steady steps: changing passwords, securing private accounts, or seeking legal guidance. Patience and support can go a long way.
Where to find help and resources
To learn more, visit TD Bank’s Fraud Prevention web page. In addition, financial abuse support systems are available from these trusted sources:
- The NNEDV’s Financial Abuse Toolkit.
- National Domestic Violence Hotline: Call 800-799-7233 or text “START” to 88788.
- Resources on elder abuse.
Bobbi said the most important takeaway is that anyone can experience financial abuse regardless of income, background, or profession. It can also happen at any point in a relationship and slowly over a long period of time.
“What’s important is creating a path to restoration,” she said, “so people can regain control over their financial lives, no matter where they’re starting from.”
For more information
If you have more questions about personal finance topics, visit the Learning Center on TD Bank's website. You can find more TD Bank services at TD.com.
We hope you found this helpful. This article is for informational purposes only and is based on information available as of July 2025 and is subject to change. This content is not intended to be used or acted upon with respect to any client's specific circumstances. For specific advice about your unique circumstances, consider talking with your qualified professionals.