Working Paper: Modern Slavery Edition 1 March 2022
31 March 2022
The Australian Banking Association has today released its first edition working paper on Modern Slavery, bringing together member banks’ knowledge of modern slavery practices in Australia.
Developed in collaboration with KPMG Australia, the first edition working paper focuses on the construction and agriculture sectors and seeks to provide a point of reference for banks to operationalise modern slavery risk identification and management.
Anna Bligh, Chief Executive Officer at the Australian Banking Association, said there is no place for modern slavery in Australia or around the world and our member banks will do whatever they can to help combat these serious crimes.
“At the core of modern slavery is a desire by one or more people to exploit the freedom of others for personal financial gain. There is no room for such abhorrent practices in our modern world,”
ABA CEO Anna Bligh
“The banking sector will do its part in helping to identify potential cases of such gross violations of human rights.
“Banks have come together to share knowledge and to develop a common understanding of the face of modern slavery in Australia. This document is the outcome of that shared knowledge and a starting point for future collaborations.”
The working paper is a result of the establishment of a Modern Slavery Working Group formed three years ago by the ABA, which has explored how modern slavery exists in sectors in Australia and how banks can best assist law enforcement to put an end to the serious crimes.
Understanding who may be involved in modern slavery allows Australian banks to explore the different characteristics of its customers, suppliers, and business relationships.
The remit of the Modern Slavery Working Group has now expanded to Human Rights, as a recognition that the banking system can be used for nefarious purposes.
The ABA intends to develop additional modern slavery working papers, which will further explore sectors that are funded by Australian banks.
Latest news
Media Releases
Former ASIC Commissioner Sean Hughes appointed Chair of the Banking Code Compliance Committee
Read more
16 January 2026
In conjunction with the Australian Financial Complaints Authority (AFCA), the ABA is pleased to announce the appointment of former ASIC Commissioner Mr Sean Hughes as the next Chair of the Banking Code Compliance Committee (BCCC). Mr Hughes served as a Commissioner at ASIC from 2018 to 2023 and brings deep expertise in financial services… Read more »
Op-Ed
Op-Ed: Your super is footing the bill for someone else’s gamble
Read more
15 January 2026
The CSLR was intended to give basic protection to mum and dad-type investors. It should not be a collectively funded vehicle for removing investment risk from society.
Media Releases
Banks offer support to customers impacted by the Victorian bushfires
Read more
12 January 2026
Australian banks are rolling out disaster support to customers affected by the current bushfires in Victoria. ABA CEO Simon Birmingham said banks were continuing to monitor the evolving situation across Victoria and are on standby to assist impacted customers. “This is an extremely challenging time for many Victorian communities, households and businesses,” Mr Birmingham said. “There are now special arrangements in place for those who may need additional financial assistance from their bank in the coming days, weeks and months. “Banks have highly… Read more »