A woman who was nearly killed by her abusive husband has been invited to advise the government on measures to support victims of financial abuse after the Guardian highlighted her story last weekend.
Francesca Onodi was left homeless and penniless when her husband doused their cottage with petrol while her two children were inside. Her husband Malcolm Baker died when the property exploded.
She discovered Baker had canceled the couple’s insurance policies and emptied their business bank accounts after starting divorce proceedings after years of abuse. She was not named in his will and was repossessed by their mortgage lender. The repossession order was stayed after the Guardian intervened.
Lucy Rigby, Minister for Cities and Financial Secretary to the Treasury, contacted Onodi after reading about her plight.
“I was moved to tears,” Rigby said. “Francesca’s case is a truly shocking example of financial abuse and shows how devastating its impact can be.”
The minister asked to meet Onodi to hear first-hand about her experiences and discuss measures to help other survivors escape poverty. The charity Surviving Economic Abuse will also attend.
“The government’s determination to tackle financial abuse is why we made it a cross-cutting theme in our recently published financial inclusion strategy,” Rigby said. “I am absolutely determined that as a government we will do everything we can to prevent a victim like Francesca from going through what she did.”
Onodi said authorities and financial providers failed her when she sought help for Baker’s abuse.
“The abusers are manipulative and calculating, using the terms and conditions of financial institutions to their advantage,” she said. “If talking can help in any small way to stop someone else from going through what my kids and I went through, I’d be happy to meet with anyone.”
According to Surviving Economic Abuse, abusers can weaponize financial products and services to maintain control and continue to cause harm long after divorce.
“Financial services professionals, from banks to insurers, need to be better equipped to spot the signs of financial abuse and support customers,” said the charity’s chief executive, Sam Smethers.
“We welcome the Treasury Secretary’s commitment to tackling financial abuse, but urgent legislative reform is now needed to plug the gaps in our systems that abusers continue to exploit. The Financial Conduct Authority must issue guidance as a matter of urgency.
