Question to the Home Office:

To ask the Secretary of State for the Home Department, whether the Minister for Safeguarding has had recent discussions with representatives of (a) banks and (b) UK Finance on tackling financial abuse by perpetrators of domestic abuse.

Tackling domestic abuse is a key commitment for this Government, and tackling financial and economic abuse is integral to this. That is why we introduced our landmark Domestic Abuse Act 2021 (the 2021 Act) alongside a comprehensive action plan of non-legislative measures.

In recognition of the devasting impact economic abuse can have on victims’ lives, for the first time in history, it is now recognised in law as part of the statutory definition of domestic abuse, within the 2021 Act. The Act, supported by statutory guidance, will further assist frontline services and agencies in identifying and responding to economic abuse.

We work closely with, and fund organisations that, seek to promote awareness of, and improve the response to economic abuse, including the organisation Surviving Economic Abuse (SEA). Since 2018, we have provided £567,000 of funding to SEA which has supported the vital work of the Financial Support Line and their financial services industry initiative for banks and building societies to better support victim and survivors of domestic abuse.

On 30 March, we went even further and published our Tackling Domestic Abuse Plan. The plan will seek to transform the whole of society’s response and sets out four key areas to improve the response to domestic abuse; Prioritising Prevention, Supporting Victims, Pursuing Perpetrators and creating a Stronger System. The plan invests over £230 million of new funding, with over £140 million to support victims. The plan also commits £200,000 of funding to further support improving the response to economic abuse and provide vital economic safety for victims and survivors.

We recognise the financial sector has a key role to play in tackling economic abuse and we work closely with UK Finance to continue raising awareness and understanding amongst financial firms. To hear a range of views on how the public and private sector can continue working together to strengthen our response to economic abuse, in February, the Home Office held an economic abuse roundtable with key stakeholders from the voluntary and financial sectors.

We are committed to ensuring victims of economic abuse receive the support they need and we continue working closely with the financial sector to improve the response to all forms of abuse.