Financial Abuse: Strengthening Safeguarding Practice for Professionals
At RLB, we are constantly raising awareness about the fact that safeguarding extends far beyond protecting people from physical harm. It requires professionals to recognise many forms of exploitation and abuse, particularly those that are hidden in plain sight. Financial abuse is one issue that we must be educated on, particularly in an evergrowing online context. It can devastate an individual’s independence, wellbeing, and their safety and can affect people of all ages.
As a safeguarding professional, our responsibility is clear: we must be equipped to identify types of financial abuse, respond to issues appropriately, and ensure that victims are supported and not left isolated or powerless.
What is Financial Abuse?
Financial abuse is the misuse or control of a person’s money, resources, or financial decision-making. It is not always obvious, and in many cases, it escalates gradually over time.
Common examples can include:
Restricting or monitoring access to bank accounts, benefits, or savings
Asking people to use their bank accounts to store money/launder for them
Controlling how a person’s money is spent or providing only limited “allowances”
Pressuring individuals into loans, debt, or signing financial documents
Misusing pensions, wages, or care-related funds
Catfishing and romance scams online
Sextortion- threatening or coercing a person into providing sexual images, videos, or favours, usually through blackmail. Money can be the tool to financially abuse/blackmail the person
Exploiting vulnerable adults or older people for personal gain
Concealing or withholding information about household or joint finances.
Financial abuse often exists alongside:
Domestic abuse — perpetrators use financial control as a tool of coercion
Neglect — funds intended for care are withheld or misused particularly for those who are being ‘cared for’
Exploitation — individuals are targeted due to age, disability, or vulnerability and can also include debt bondage.
Many victims remain in unsafe or unhealthy environments because they lack the financial means, do not have capacity, or have been coerced or frightened to leave their situation.
Indicators of Financial Abuse
Unexplained financial hardship despite adequate income or benefits
Missing possessions, savings, or documents
Sudden changes to wills, property ownership, or financial arrangements
A third party consistently speaking on behalf of the individual in financial discussions
Anxiety, shame, or secrecy when discussing money
Reliance on another person for basic necessities such as food or heating.
Professionals should be especially alert in contexts where trust and dependency exist, such as family relationships, caregiving roles, exploitation cases, and professional care services.
A Professional Response: What to Do if You Suspect Financial Abuse
Safeguarding professionals must act decisively while maintaining sensitivity. Best practice steps include:
Recognising and Recording- Document observations, disclosures, and any financial irregularities and keep records factual, objective, and detailed.
Reporting Internally- Follow your organisation’s safeguarding procedures and escalate concerns to your Designated Safeguarding Lead (DSL) or equivalent.
Risk Assessment- Consider the level of risk and any immediate actions required to protect the individual and assess whether the individual has capacity to make financial decisions (with reference to the Mental Capacity Act, if applicable).
Multi-Agency Involvement/External Referrals- Involve partner agencies where appropriate: local authority safeguarding teams, police, financial institutions, or regulatory bodies and share information lawfully and proportionately to safeguard the individual.
Support the Individual- Ensure the person’s voice is central to all decisions and provide referrals to specialist services such as domestic abuse charities, Citizens Advice, or independent advocates. Offer reassurance and explain safeguarding processes clearly to reduce fear or confusion.
Embedding Financial Abuse Awareness into Practice
To strengthen professional safeguarding culture, organisations should:
Integrate financial abuse into safeguarding training so staff can recognise and respond confidently.
Develop clear referral pathways for suspected financial exploitation.
Promote multi-agency collaboration, ensuring strong links with social care, law enforcement, and financial services.
Encourage professional curiosity — asking sensitive but direct questions when something feels “not right.”
Review and update policies to ensure financial abuse is explicitly recognised as a safeguarding concern.
Case Reflection Examples
A care worker notices that an older adult suddenly cannot afford groceries, despite receiving their pension. On gentle enquiry, the adult discloses that a relative has been managing their bank card and withdrawing large sums “to help with bills.” The care worker records the concern, escalates to the DSL, and a safeguarding referral is made. Multi-agency work uncovers wider exploitation, leading to protective action and the restoration of the adult’s financial independence.
A 19 year old male advised his manager at work that his parents are taking his apprenticeships wages “because they say he is autistic and can’t be trusted with money.” He has stated that he is instructed to go to his room when he gets home and cannot tell anyone that they look after his finance. He has asked for new clothing and to go to the cinema from his wages and his parents said no. He asked a manager at work to help him. The manager contacted a ssfeguarding professional for advice and spoke to social care, a visit was made and funds were released to the male, his parents said they thought they were acting in his best interests and were sorry. The male was making arrangements to move in with a friend following the situation to live independently.
During a routine welfare check, a housing officer noticed that Mrs M, a 78-year-old woman, had no heating despite receiving her pension and winter fuel allowance. On gentle enquiry, Mrs M disclosed that her son had been “helping” with her finances but she no longer had access to her bank card or account. She felt anxious about speaking out but admitted she often went without essentials.
The concern was recorded and escalated to the Designated Safeguarding Lead, who referred the case to Adult Social Care. Multi-agency enquiries revealed that Mrs M’s son had withdrawn large sums from her account over several months for his personal use. Safeguarding measures were put in place, including support from an independent advocate and a change of financial arrangements to protect her income.
During a pastoral meeting, staff noticed that 13-year-old Aisha had become withdrawn and was frequently asking friends for lunch money. When gently questioned, she disclosed that her older brother often pressured her to hand over her pocket money and any cash gifts from relatives. He had even taken her bank card, linked to a savings account her grandparents had set up for her. Aisha explained she felt unable to say no because he threatened to “make trouble” for her if she refused.
The school’s Designated Safeguarding Lead (DSL) recorded the disclosure and made a referral to children’s social care. Further assessment revealed that the financial exploitation was part of a wider pattern of controlling behaviour in the home. A safety plan was developed, and the family was provided with targeted support.
Reflections:
These cases highlight the importance of professional curiosity and education around financial abuse and where and how it can exist. Without observation and sensitive questioning, financial abuse situations can remain hidden. Financial abuse can be subtle, but with timely recording, reporting, and multi-agency action, professionals, and family/friends can ensure a person’s safety, dignity, and independence will be taken care of and supported. These examples illustrate how professional vigilance, combined with clear safeguarding processes, can disrupt patterns of exploitation and allow people to be free from financial abuse.
Final Thoughts
Financial abuse is a powerful and destructive form of control. For professionals, awareness and decisive action are essential. By embedding financial abuse into your safeguarding policies, practices, and training sessions, we can ensure that victims of all ages are not left trapped or invisible.
At RLB Safeguarding Ltd, we are committed to equipping professionals with the skills, confidence, and knowledge to act effectively. Safeguarding is about more than protection — it is about restoring dignity, independence, and safety for every individual at risk. If you would like training around financial abuse, or to understand more then please contact us here