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Financial Abuse

Submission to: Parliamentary Joint Committee on Corporations and Financial Services

Submission on financial services regulatory framework in relation to financial abuse. Drawing on the stories and insights from financial counsellors the submission highlights some key areas in which the financial systems are not working for victim survivors of financial abuse. Our recommendations include a consistent approach be adopted across the financial services so that there is a minimum standard or obligation of assistance. A central repository for key data points from financial services about financial abuse that is shared with key stakeholders. More friction in the digital process and organisations building in more robust verification process into a person’s identity independently when making an application for debt.

Submission to financial abuse inquiry 2024
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