Tory Archbold will never forget the moment her ex-partner sat next to her on a flight to Melbourne.

He had broken into her frequent flyer account to find out the plane and seat number, and upon boarding, threatened to take her to court until she was “left with nothing”.

“It shook me, feeling like everywhere I turned he was there to block me somehow,” she said.

After separating in 2005, the 50-year-old businesswoman and author said she was stalked, harassed and intimidated for 12 years straight.

The financial abuse started with tens of thousands of dollars in unauthorised credit transactions which turned into an “avalanche of debt” in her name.

“It’s incredibly confronting, especially when you have a very young child … and it took a really long time to navigate what is an incredibly broken system in Australia — from businesses through to government to actually get the keys to freedom,” she said.

Now, Ms Archbold shares her story so she can help empower others to recognise and address their own financial abuse experiences.

Financial services ‘inadvertently’ putting victim-survivors at risk

Adviser, social entrepreneur and academic Catherine Fitzpatrick said financial abuse was a “hidden epidemic” where many people don’t realise they’re experiencing it until it’s too late.

Over 2 million Australians have experienced economic abuse, affecting one-in-six women and one-in-13 men, according to the Australian Bureau of Statistics.

“It’s an insidious problem that creeps up on people … and then it’s very, very challenging for them to leave what is likely to be an unsafe situation.”

Ms Fitzpatrick said the abuse often continued after separation, especially when there is a joint account or online access.

In addition to banking, Ms Fitzpatrick has seen examples in insurance, energy and water companies and telecommunications with shared internet or phone accounts.

Often perpetrators use logins to monitor the victim-survivor’s accounts, cause financial damage, or encourage providers to disclose details without consent.

“Unfortunately, the ways that products and services have been designed [was] when we didn’t understand how domestic and family violence might play out,” Ms Fitzpatrick said.

“Some [former partners] are abusive, controlling and incredibly dangerous, but the products don’t let you disentangle or separate really easily.

More companies urged to lessen and prevent harm on their platforms

More than 20 businesses last month pledged to mobilise against perpetrators by addressing financial abuse in their terms and conditions.

Misuse of products and services for groups including ANZ, the University of New South Wales and Optus, could soon lead to being permanently banned after a warning.

“It’s sending a really strong message saying this behaviour won’t be tolerated,” Ms Fitzpatrick said.

“Because when businesses decide to move and invest, they can change the culture at scale.”

Founder and CEO of the Centre for Women’s Economic Safety Rebecca Glenn said this should be the new norm for companies nationwide.

“What we’re seeing is a bit of a groundswell here of businesses in Australia recognising what their role is in addressing domestic and family violence in this country,” she said.

“I’m hopeful that what we’ll see is some of the next steps, which is enforcement of these terms and conditions.

Ms Archbold said when she was experiencing financial abuse two decades ago, it felt like people “wanted to turn a blind eye”.

But in the years since, she has noticed a shift in how lived experiences were being addressed.

“I think now, women have a voice and are actually speaking up … and corporate Australia is starting to listen,” she said.

Where can people turn to for help?

Ms Fitzpatrick said if someone identifies they are experiencing financial abuse, they should reach out to specialist professionals such as 1800 RESPECT for advice.

“People who recognise signs of financial abuse could also contact a financial counsellor [such as] the National Debt Helpline, or money clinics [like] the Centre for Women’s Economic Safety which are both free services,” she said.