‘I’m a financial dominatrix – rich men pay me to spend their money’

Interestingly, many of Diamond’s submissives are big rugby fans and most have either grown up with wealth, made a lot of cash or have struggled financially and this relationship with money has had long-lasting effects.

Diamond says: “Some people may see my work as exploitative, but it’s really not. They’re having fun and it’s educating them to be more mindful of their money. It’s a good thing, for me and for them. As much as I’m in control, it’s still their choice.”

Lots of her work is online – sending personal messages and voice notes – but she meets some submissives in person. For example, she may “allow” a loyal slave to take her on an all-expenses paid trip to Paris, if they’ve “served” her well for two years. At no point does the relationship become physical – Diamond says this is not her area.

Diamond’s most popular service is her “debt contracts”. Marketed as a game, clients agree to be “monetary reigned by Countess Diamond for the entire duration of the contract.” Over 30 days customers receive regular emails from The Bank of Countess Diamond demanding payments of increasing amounts.

There are three options – low, medium and high risk – which cost £10, £25 and £50, respectively.

In a high-risk contract seen by Telegraph Money, it says: “Slave shall make a minimum weekly payment to Countess Diamond in the amount of £250 via Vouchers … The ongoing schedule will be determined by Countess Diamond and is subject to change at her discretion.”

The first email sent stated a starting debt of £1,000 with a minimum weekly payment of £250. A few days later the debt increased by £30 and shortly after it went up by another £50. In addition, those who fail to pay on time are charged a £10 late fee.

Diamond says the debt contracts are popular because they can involve relatively small amounts of money and take effect instantly. Submissives get a thrill when the debt increases, knowing she’s accruing wealth.

And as a result of the cost of living crisis, rather than cut back she’s noticed submissives spending larger sums in one go. “The rush they get when they spend means more when times are tight,” she adds.

However, Diamond says she never pushes people into debt they cannot pay and has stopped providing services to submissives who she identifies as vulnerable.

Sarah Coles, head of personal finance at investment platform Hargreaves Lansdown, says playing games with your finances could have real consequences, if you trust the wrong person.

She says: “It’s your money, and your life, so it’s entirely your choice, but if you’re going anywhere near this you need to appreciate how risky it is. You could ringfence money for this purpose, setting up a pre-paid card and giving it away, but you’re still handing over personal financial information and willingly making yourself worse off.

“By sharing your financial details you’re losing any protection from your bank if things go wrong.”

If you need help with an addiction the NHS provides lots of useful information online or you can call the Samaritans on 116 123