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
Speech
The value of banking: ABA CEO Simon Birmingham’s address to Banking 2026
17 June 2026

ABA CEO Simon Birmingham delivered the following introductory remarks ahead of a panel on the value of banking to the Australian economy, launching new Mandala research, at the 2026 ABA Banking Conference. Our piece of work that has been released today, Mandala providing the intellectual backdrop and analysis to support us in this, the essential… Read more »

Read more
Media Releases
Economic contribution of Australian banks laid bare in new report
17 June 2026

Surging household ownership of Australian banks, record lending to first home buyers and strong competition helping mortgage holders save up to $2,000 a year are some of the findings of a new report released today. ‘The essential infrastructure: How Australian banks power the economy’ produced by Mandala on behalf of the ABA finds: ABA CEO Simon… Read more »

Read more
Media Releases
ABA welcomes changes to streamline the Financial Accountability Regime
16 June 2026

Australian banks welcome today’s proposal from APRA and ASIC to reduce the regulatory burden associated with the Financial Accountability Regime (FAR). ABA CEO Simon Birmingham said this was a sensible measure announced in the 2026-27 Federal Budget to reduce some of the administrative burden placed on banks related to FAR. “This is a commonsense and… Read more »

Read more