How common is domestic financial abuse?

How common is domestic financial abuse?

Financial abuse is a type of domestic abuse that directly involves money
and assets. It can exist on its own, but often exists as part of an abusive
relationship overall. For instance, someone may suffer from intimidation,
which is emotional abuse, along with both physical attacks and financial
abuse. Though they’re all technically different, one often leads
to the other, so they may all be cited in a case.

Simple financial abuse could just include telling someone that he or she
doesn’t get any access to the family bank account. More drastic
abuse could actually involve taking money from accounts that the person
holds, such as investments or retirement funds, which may even have been
owned before the marriage. Oftentimes, if one partner decides to get out
of the relationship and tries to leave, the other partner may take all
of the money out of these accounts so that it can’t be used.

So, how often does financial abuse happen? When looking at relationships
that are already deemed to be abusive, research shows that 98 percent
of them, the vast majority, involve financial abuse. It’s incredibly
common, though not talked about as often as other types.

As noted, financial abuse may be brought up if a case is starting to revolve
around domestic violence, physical abuse, threats,
intimidation and more. Though it feels like it’s being added onto these cases,
it can be very serious and it can have huge ramifications in court, so
it’s important for all of those who have been accused of this type
of abuse to know their legal options in Baltimore, Maryland.

Source: US News, “How to Stop Domestic Financial Abuse,” Tim Chen, accessed Aug. 25, 2015