On 30 April 2025, UK Finance published the third version of its Financial Abuse Code (the Code).

The Code was first launched in 2018 with the aim of increasing awareness and understanding amongst firms and their staff of financial abuse and how to identify the signs. It was revised in 2021 and has now been updated for a third time.

The revised Code has been structured around a new seven pillar framework which is aligned to the Consumer Duty requirements. UK Finance explains that the Code provides principle level guidance to participating firms on how to support victim-survivors of financial and economic abuse, and it is for Code signatories to consider how best to apply the Code’s requirements in a proportionate manner in order to deliver good customer outcomes, taking into consideration the size of the organisation and its existing customer base, target market and operating model.

The Code takes effect from 30 April 2025.

UK Finance and its members plan to continue to share best practice and encourage further firms to sign up to the Code, as well as continuing to work collaboratively with customers with lived experience, specialist charities, the FCA, and the Government to explore suggestions put forward as part of the review which require further consideration and to advocate for an economic task force to address some of the issues.