Laura WilesUK Finance has published the third version of its Financial Abuse Code, which is designed to increase understanding amongst firms of how to identify signs of economic abuse suffered by their customers, and provides guidance to signatory firms on how to support victims.
The foreword from UK Finance’s Managing Director notes that since the second iteration of the Code in 2021, the number of women impacted by economic abuse has risen to 4.1m. UK Finance calls for urgent action, including asking the Government to convene an Economic Abuse Task Force to provide cross-government leadership on issues highlighted in the report.
The new Code is effective for signatories from 30 April 2025.