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.
Financial Abuse
Related Projects
Submission to Treasury – Review of Tax Regulator Secrecy Exceptions
Tax secrecy laws are important for protecting people’s private financial information and keeping
Australia’s tax system secure. However, the current rules under the Tax Administration Act 1953 (TAA
1953) are making life harder for grieving families trying to access a loved one’s superannuation. This submission outlines issues we see in tax and super systems.
Submission to the Code Governance Committee – Monitoring and Compliance Priorities Consultation
This document outlines feedback on the Code Governance Committee’s priorities for monitoring compliance with the General Insurance Code of Practice. We appreciate the CGC’s
focus on key issues impacting consumers and financial counsellors. We outline several recommendations to improve insurance outcomes for consumers.