More than a third of women who have their money and purchases controlled by an abusive partner or ex are aged between 18 and 24.

Black, Asian and Minority Ethnic women are nearly twice as likely to experience financial abuse - 32% compared to 18% of White women.

Damning research today reveals economic abuse is rife across the UK, with one in five women having domestic abusers control their cash and belongings. Surviving Economic Abuse, which commissioned a survey into the scale of the abuse, said victim-survivors are trapped with the abuser when their finances are controlled.

The charity has also warned the abuse, which can also include controlling access to transport and technology, often leaves victim-survivors homeless, in debt with a poor credit rating and with no job or prospects. Abusers have also been found to destroy a victims’ belongings or refuse to contribute to household costs or, after separation, to pay child maintenance or split joint assets.

The charity found that one in three women have not reached out to anyone for advice or support for economic abuse. It is now launching a new Banking Support Directory, collating information on how the UK’s major banks and building societies offer support for economic abuse.

Dr Nicola Sharp-Jeffs, chief executive and founder of Surviving Economic Abuse, described the new survey highlighting the prevalence of economic abuse as “breathtaking”. “Domestic abusers across the country are controlling the cash and belongings of millions and it’s ruining lives,” she said. “If you’ve got no access to your own money or you’re drowning in debt, it only makes you feel even more trapped with an abuser and unable to manage alone.”

Dr Sharp-Jeffs said the “skyrocketing cost of living only makes freedom feel further out of reach for victim-survivors”. “Now more than ever they need support to help them, and their children escape and rebuild their lives. That’s why we want to see the government and banks working together to end economic abuse forever,” she added.

All figures are from an Opinium survey of 2,072 women across the UK that was conducted online from November 7-10.