With the evolution of technology in the financial sector, there has been a simultaneous rise in the misuse of these tools by financial abusers to target victims. This shift to digital platforms has not only made financial transactions more convenient but has also provided abusers with new means to monitor, manipulate, and control their victims’ financial activities.
Stephanie Love-Patterson, president of the National Network to End Domestic Violence (NNEDV), highlighted how technology has opened up new avenues for financial abuse, a phenomenon prevalent in a majority of domestic abuse cases. Financial abuse, also known as economic abuse, involves using financial resources to exert control over victims, creating a barrier that hinders their ability to break free from abusive relationships.
While traditional forms of economic control like withholding money or interfering with employment opportunities persist, the emergence of digital tools has introduced more insidious tactics that are harder to detect. These newer methods include digital surveillance, spyware apps, password theft, and online account hijacking, all of which enable abusers to closely monitor their victims’ financial movements without their knowledge.
Love-Patterson outlined three main ways through which recent technologies amplify financial abuse. These include the use of spyware apps to track online activities, the manipulation of online financial accounts to restrict access or monitor transactions, and the sabotage of employment opportunities through digital interference.
To protect oneself from digital financial abuse, Love-Patterson emphasized the importance of securing digital accounts, changing passwords from safe devices, and seeking guidance from advocates knowledgeable about technology-enabled abuse. Safety measures such as updating security questions, avoiding shared devices, and working with advocates who understand the technical and legal aspects of digital abuse are crucial steps in safeguarding against financial exploitation.
Financial abuse, which can be as detrimental as physical abuse, often traps victims in abusive relationships due to financial dependence. The latest technologies have given financial abusers unprecedented tools for surveillance and control, making it challenging for victims to recognize and break free from the cycle of abuse. By utilizing secure devices, protecting digital accounts, and seeking support from knowledgeable advocates, victims can empower themselves to combat digital financial abuse and take steps towards reclaiming their financial independence.
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