Industry guideline: Financial abuse and family and domestic violence policies
Banks recognise that domestic violence is a serious community issue and it can have a major impact on a person's financial security and wellbeing.
Financial abuse is a form of domestic violence and can include preventing someone from making decisions about their finances or accruing debt in their name.
To help ensure affected customers are supported by their bank, the Australian Banking Association has developed a new guideline for banks on dealing with customers who are the victims of domestic violence. It outlines the types of things banks can do to ease the burden on customers.
The guideline also highlights the importance of staff training to identify the potential signs of financial abuse and know how to help a customer.
For more information view the guideline.