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Commenting on the findings of a Co-operative Bank survey published today (Wednesday) that nearly one in five adults have been victims of financial abuse, TUC General Secretary Frances O’Grady said:
“This research highlights just how widespread the problem of financial abuse is – particularly against some of the most vulnerable women in society.
“Today’s survey backs up recent findings by the TUC and Women’s Aid on the scale of financial abuse. This isn’t an issue that can be swept under the carpet.

date: Wednesday 9 December 2015

embargo: For immediate release

Commenting on the findings of a Co-operative Bank survey published today (Wednesday) that nearly one in five adults have been victims of financial abuse, TUC General Secretary Frances O’Grady said:

“This research highlights just how widespread the problem of financial abuse is – particularly against some of the most vulnerable women in society.

“Today’s survey backs up recent findings by the TUC and Women’s Aid on the scale of financial abuse. This isn’t an issue that can be swept under the carpet.

“Banks need to take more action to support victims. Simple steps could mean the difference between having money for children’s food and school uniforms or having to go without.

“Banks could train staff to recognise and act on financial abuse. They could also have a written policy for supporting abuse survivors with a dedicated member of staff at their nearest branch.”

The study of more than 4,000 adults found that in 60 per cent of cases of financial abuse reported, the victims were women. More than three-quarters of female victims said they suffered for more than five years.

NOTES TO EDITORS:

- The full TUC and Women’s Aid report can be seen here

- All TUC press releases can be found at www.tuc.org.uk
- Follow the TUC on Twitter: @The_TUC and follow the TUC press team @tucnews
 

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