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Martin Lewis: 20 percent of those with mental health issues face financial abuse
Martin Lewis, a well-known financial expert and advocate, warns that a significant number of people with mental health conditions are at risk of financial abuse. According to his statement, 1 in 5 individuals are forced to share their personal identification numbers (PINs) due to the lack of appropriate banking options for carers.
Lewis, representing Money and Mental Health Policy Institute, highlights the pressing need for banks to offer solutions such as carers cards, third-party notifications, and other controls to safeguard these vulnerable individuals. The organization is working actively to address this gap and is advocating for changes in banking policies to better protect those with mental health challenges.
Lewis’s latest intervention follows on from his recent advocacy for consumer protections at the Labour Conference 2025, where he addressed broader issues in personal finance, including council tax reform and support systems for vulnerable groups. His ongoing commitment to regulatory change was also evident in reporting on the FCA’s motor finance redress scheme, illustrating a consistent focus on safeguarding consumers amid evolving financial landscapes.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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