‘Hidden epidemic’: Financial abusers could be banned from services including Optus and ANZ in DV crackdown

Financial abuse perpetrators could soon be banned from more than 20 banking, telecommunications and education services in an Australian-first domestic violence crackdown.

Twenty-one businesses — including Optus, University of NSW and the four major banks — have either updated or pledged to update their terms and conditions to include financial abuse as a breach where users accounts may be frozen, suspended or closed as part of a new Respect and Protect public awareness campaign.

The campaign, which launched on Thursday, showcases the Aussie businesses taking steps to protect their customers against financial abuse.

Financial abuse occurs when perpetrators use services like banking or insurance to threaten victims or accrue debts in their name, with Respect and Protect deeming it a “hidden epidemic”.

It is estimated to cost victims $5.7 billion a year.

“Businesses may unintentionally help financial abusers because their products and services are being weaponised as a tactic of coercive control and manipulation,” said Flequity Ventures founder Catherine Fitzpatrick, who is driving the campaign.

“The campaign is really designed to encourage every business in Australia ... to promote respect for women and to provide protection against financial abuse because it is highly likely their products are being weaponised by domestic violence perpetrators.

“A number of them (businesses) have now put measures in place ... what they’ve done is made it clear in their contracts that they don’t want their products and services misused for financial abuse and that they will take action.”

Optus’ terms and conditions — which were updated earlier this week — state that the company would “investigate” and “take action” if a user raised concerns about a “potential harm to a person”.

“We may assign your rights under the agreement where an end user of a service ... is affected by a situation involving potential or actual domestic or family violence and the transfer is reasonably necessary to address that situation and minimise the risk of harm,” the T&C’s read.

“We may suspend or cancel your service or account where you have abused the service or account in a way that breaches the Fair Go Policy to abuse or harass another person.

“This may include measures required to protect a vulnerable person due to domestic violence, elder abuse, financial abuse, illness, cognitive impairment or other similar circumstances.”

Optus customer services managing director Maurice McCarthy said the telco was committed to protecting users who were impacted by domestic violence.

“Domestic and family violence in Australia is a whole of society problem, and Optus is determined to play its part standing up for victims of abuse and empowering them to stay connected and protected as they navigate difficult circumstances,” he said.

“Our updated terms and conditions underscore this commitment to protect those impacted by domestic and family violence through practical support .... and also to ensure our products and services meet the needs of vulnerable customers.”

Like Optus, Hume Bank has updated its T&Cs which give the bank permission to close accounts if any form of abuse was suspected.

“If the unacceptable conduct is severe or repeated, Hume Bank may reasonably close your accounts without giving notice,” it reads.

“If we determine the abuse is so severe we may report the matter to the police or other law enforcement agencies.”

Ms Fitzpatrick said she was “delighted” so many businesses were taking proactive steps in protecting victims of financial abuse.

“There’s no where else in the world that businesses are putting financial abuse in their terms and conditions, so this is really proactive, world-leading action across a range of sectors,” she said.

“(Businesses) are really saying that when we have a national domestic violence crisis, they want to play a bigger role and that they don’t want to be part of a system of abuse.

“I would encourage (other businesses) to be part of a whole society ... to say ‘we don’t condone violence against women’ and ‘we don’t want to enable you to do that.’”

Support is available from 1800RESPECT (1800 737 732) or the Men’s Referral Service on 1300 766 491.