Skip to main content
Financial Assistance Hub

Banks call for consistent laws to prevent elder abuse

31 March 2021

Australian banks are urging state and territory governments to adopt consistent laws on powers of attorney to prevent elder financial abuse. 

State and federal Attorneys-General are meeting today to consider a scope for a national register of power of attorney instruments.   

“This meeting presents an opportunity to finally get this right”, said ABA CEO, Anna Bligh. 

“Financial abuse is a serious and far-reaching problem. Elderly customers and those with a disability are most at risk. Nationally consistent laws are vital in order to protect these customers.”  

“Financial abuse is a serious and far-reaching problem. Elderly customers and those with a disability are most at risk. Nationally consistent laws are vital in order to protect these customers.”

ABA CEO Anna Bligh

The ABA is calling on governments across Australia to establish: 

  1. Power of Attorney laws which are the same across the country and protect people from this kind of abuse. 
  2. A National Power of Attorney (POA) register to check if POA documents are legitimate and current. 
  3. Somewhere to report abuse in each state that can investigate and act. 

This follows the 2017 recommendations from the Australian Law Reform Commission report into elder abuse, and a commitment by Attorneys-General in 2019 to set baseline minimum standards for Power of Attorneys and create a mandatory national online register for powers of attorney.  

“It’s high time that this important reform was delivered”, Ms Bligh said. 

Protections are different in each state and territory

Currently, Power of Attorney laws and their protections are different in each state and territory, with no register to track who has power of attorney over whom.  

Governments can do more to help older people protect themselves and prevent elder financial abuse.   

The national register is a recommendation of the Australian Law Reform Commission (ALRC)  inquiry into elder abuse. 

The introduction of a register will greatly assist in safeguarding older and vulnerable people’s financial status by providing a reliable single source of information to verify the authenticity and currency of an instrument.   

It is critically important for our nation that all governments are doing all within their power to help elderly people who are at risk of abuse in our community.   


Help stop elder financial abuse

Latest news

1 / 3
Media Releases
Australian banks support card surcharging ban, urge alternative on interchange fees
9 September 2025

Australian banks strongly support the RBA’s proposed ban on debit and credit card surcharges, while overwhelmingly calling for an alternative pathway forward on interchange fees.  The ABA has made the following calls in a submission to the RBA’s current consultation on the Review of Merchant Card Payment Costs and Surcharging:  ABA CEO Simon Birmingham said… Read more »

Read more
Media Releases
New payments system rules welcomed by banks
4 September 2025

Australia’s banks welcome the passing through the Senate of new legislation to ensure payments laws are up-to-date and reflect today’s digital economy. The new laws will bring digital wallets, cash distribution services, buy now, pay later schemes and other emerging payment methods within regulatory oversight, significantly enhancing protections for customers. ABA CEO Simon Birmingham said… Read more »

Read more
Media Releases
Banks welcome passage of Payments System Modernisation Bill through the House
3 September 2025

The ABA welcomes the passage through the House of critical legislation to ensure Australia’s payments regulatory framework is brought up-to-date and urges the Senate to quickly pass this overdue legislation too. The proposed legislation will bring digital wallets, cash distribution services, buy now, pay later schemes and other emerging payment methods within regulatory oversight, significantly… Read more »

Read more