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
E&OERadio InterviewABC Illawarra22 July 2026. Topics: Buying and selling of bank accounts; Efforts to combat money laundering; Scam prevention efforts by banks Melinda James: Well, this is a big and growing problem. There were 13,000 bank accounts shut down by the four major Australian banks in the financial year 2023–24. So, how big a problem… Read more »
Thank you for the opportunity to appear alongside our friends and colleagues at COBA today. The Cash Distribution Framework Bills are a critical step to provide security to the long-term availability of cash in Australia. Our written submission sets out our position in detail. Today I will focus on a few key points. The banking industry is committed to ensuring that Australians who… Read more »
E&OERadio Interview2SM Sydney21 July 2026. Topics: Buying and selling of bank accounts; Efforts to combat money laundering Tim Webster: Look, we spoke to Peter Price from Crime Stoppers, the boss at Crime Stoppers, about this banking mules. I mean, this ridiculous situation where the young ones are coerced into being, you know, money mules and… Read more »