22 May 2021
This industry guideline:
- Explains what financial abuse can look like and how it can impact customers and a bank’s relationship with their customers; and
- Outlines a framework for banks to raise awareness and promote consistent arrangements to deal with suspected cases of financial abuse
This guideline reflects good industry practice, and the ABA encourages members to use the principles in this guideline to put in place internal processes, procedures, and policies.
Latest news
The ABA welcomes the Federal Government’s announcement to extend the Responsible Lending Obligations (RLO) exemption for small businesses. ABA Acting CEO Vanessa Beggs said it was critical banks were able to provide small businesses with the finances they need to operate and expand. “One in four SMEs report wanting to increase their capital investment, so… Read more »
Today the Australian Banking Association Council has appointed Melanie Evans, CEO of ING Australia, as its new Deputy Chair. The Council thanked the outgoing Deputy Chair, Marnie Baker, for her outstanding leadership during her tenure as Deputy Chair since 2019 and throughout her 35 years in the banking industry. Ms Evans said she was honoured… Read more »
Anna Bligh: This new framework is a comprehensive approach to the terrible scourge of scams. This will mean that every single part of the scam chain where scammers try to take the hard earned money of Australians will now have to play a role in preventing scams, detecting them and keeping Australians safe. Journalist: I… Read more »