Skip to main content
Financial Assistance Hub

New report shows banking industry at front of pack in counteracting financial abuse

27 February 2025

The ABA welcomes the release of the Flequity 2025 Respect and Protect Index showing the banking industry is leading the way in protecting customers from financial abuse.

The report highlights that 29 banks have or are taking action to change policies or product terms and conditions to safeguard customers from financial abuse and make it abundantly clear that it won’t be tolerated.

ABA CEO Anna Bligh said stamping out financial abuse and ensuring banking products are safe remains a key priority for the entire industry.

“Financial abuse is an issue that banks and their staff are confronted with every single day,” Ms Bligh said.

“Australian banks are taking world-leading action to make it harder for perpetrators to exploit banking products and services to control and financially abuse people.

“There has been a major focus across the sector to design safer banking products by ensuring terms and conditions are clear that financial abuse won’t be tolerated and could lead to account suspensions.

“Banks are also taking other measures such as training staff to spot red flags, assisting victim-survivors to resolve debt they accrued because of the abuse and to increase their privacy and safety settings as well as referring customers to specialised support. 

“This report is a timely reminder that products and services can be weaponised to financially abuse customers across the Australian economy.

“Banks remain committed to working with Government, consumers groups and organisations such as Flequity to continue efforts in safeguarding customers from financial abuse.”

Source: Flequity

To learn more about what banks are doing to help prevent financial abuse, visit: https://www.ausbanking.org.au/financial-abuse-prevention/

Latest news

1 / 3
Media Releases
Preparing for the removal of card surcharging
14 September 2026

The ABA and its member banks are reminding businesses to make sure they are ready for the upcoming Reserve Bank of Australia’s (RBA) card surcharge reforms which take effect from 1 October 2026. These changes mean: ABA CEO Simon Birmingham said banks were supporting business customers to prepare for these changes, along with implementing the… Read more »

Read more
Transcript
Simon Birmingham transcript of interview on News24 with Kieran Gilbert
11 September 2026

E&OETV InterviewInterview on News24 with Kieran Gilbert11 September 2026 Topics: Mortgage fraud; card surcharging ban; immigration  Kieran Gilbert: Let’s turn our attention now to one of the biggest financial crime syndicates in Australian history. I want to talk about the implications for our banking system with the CEO of the Banking Association, Simon Birmingham. Simon,… Read more »

Read more
ABA News
Statement from Way Forward re Cyber Incident
9 September 2026

Click here to read the statement from Way Forward.

Read more