Financial abuse affects more than half of women in abusive relationships and manifests regardless of income level. According to Reinhardt de Lange, Director and Head of Legal at Milaw Legal, even women who are financially independent often face manipulation and coercive control from partners, which keeps them in destructive relationships.
Ren Moonsamy, Director of National Debt Counsellors, explained that financial abuse takes many forms. These include restricting access to money, concealing financial information, pressuring a partner to obtain a loan, using accounts or income for the benefit of third parties, and assigning responsibility for debts incurred during the relationship.
Moonsamy emphasized that a key indicator is the partner losing significant control over their own finances. He advised consumers to carefully review all credit agreements, maintain access to banking and credit information, and seek advice promptly if debt becomes unmanageable or financial control is used as a tool of dependency.
How it manifests
Control can go beyond simply restricting access to cash. The law firm Simon Dippenaar & Associates from South Africa provides examples of financial abuse, including prohibiting a partner from working, termination, control over financial assets, assigning them an allowance, or completely withholding funds.
Furthermore, Simon Dippenaar & Associates notes that this can include forbidding the opening of a personal bank account or credit card, demanding statements and receipts, and damaging a credit rating.
Nedbank indicated that the consequences can be subtle in the financial services sector, as signs of abuse can mimic poor financial habits. David Cru-Brown, the bank's risk director, stated that a person experiencing coercive control might suddenly miss payments, accumulate unintentional debt, or have unstable income because they were prevented from working.
Cru-Brown noted an important distinction: 'For the traditional risk model, such behavior might just appear as a sign of higher credit risk, but in reality, it could be an indicator of financial abuse. This is an important distinction. One reflects financial decision-making, and the other—financial control.'
After the relationship ends
Oppermans Inc reported that economic abuse can continue after a breakup, as money, including child support, is sometimes used to maintain control. This form of abuse can also include restricting access to transportation and technology necessary for work and communication.
Oppermans Inc estimates that economic abuse is present in at least 95% of cases where other forms of violence occur. The impact of this abuse can persist long after the victim leaves, leaving those affected without means for basic needs or burdening them with substantial debts accumulated by their partners, negatively affecting their creditworthiness and long-term financial stability.
Freedom
Kenshani Nobanda, Chief Marketing Officer at Nedbank, asserts that financial freedom must be understood as more than just access to financial products. In her view, 'financial freedom is the ability to act. It is waking up every morning knowing that you are making your own financial decisions, not someone else's.'
Mara Glennie, founder of TEARS Foundation, believes that financial dependence is one of the factors that can keep a person trapped, alongside poverty, isolation, poor transport, digital surveillance, and lack of local services. Glennie stressed: 'The work starts with survivors and communities. Survivors must be heard, protected, and connected to real support... South Africa does not need another Women's Month that will end with applause while the system remains unchanged.'
