28 November 2019
We know that people over the age of 50 are at risk of financial abuse,
scams and fraud. This is often called elder financial abuse.
Elder financial abuse can take many forms and happen to anyone.
It is a mistake to think it couldn’t happen to you or those you love.
Even though it’s hard to discuss, the more we understand what elder
financial abuse is, the more we can identify it, talk about it, and take
action to prevent it from happening.
This guide is for our older customers and their loved ones. We want
you to be safe and savvy when managing your money.
This is the version of the Banking Code of Practice that takes effect on 1 March 2020. It is currently awaiting ASIC authorisation.
Today’s release of ASIC’s updated RG 209 Credit Licensing: Responsible lending obligations is an important milestone in clarifying responsible lending obligations for banks. CEO of the Australian Banking Association Anna Bligh said that the updated RG 209 would provide clarity to banks on ASIC’s views on what responsible lending obligations require before offering credit to… Read more »