20 June 2018
The South Australian Government’s introduction into parliament today of a bill to establish an Adult Safeguarding Unit delivers on a key change campaigned for by Australia’s banks and senior’s groups to establish a body to make good faith reports of suspected elder financial abuse that can then be investigated.
In February, Australia’s banks renewed their push for change and called on the Federal, state and territory governments to make key policy decisions by Christmas. These changes are:
- Standardised Power of Attorney orders across state and territories
- An online register of Power of Attorney Orders
- A designated safe place for local bank staff and members of the public to report suspected abuse.
On Monday the Council on the Ageing, National Seniors, the Older Persons Advocacy Network and the Finance Sector Union all joined forces with the banking industry to mobilise the Australian public behind the campaign for change, launching an online petition.
Australian Banking Association CEO Anna Bligh said that this was an important win for the senior’s groups and the industry in their campaign to see all levels of government play their part in tackling the problem.
“Australia’s banks, together with seniors groups and the Finance Sector Union, have been lobbying the government for a long time to see key initiatives such as this one established,” Ms Bligh said.
“This is an important step and an example to other states and territories of what needs to be done to address this growing issue.
“There is still a long way to go, with states, territories and the Federal Government needing to accelerate their efforts to standardise Power of Attorney orders and create an online register,” she said.
To get on board with the campaign go to dev2.ausbanking.ds1.pensoagency.com/elderabuse and show your support.
Contact: Rory Grant 0475 741 007
“This is about engaging with the entire banking ecosystem in order to ensure the accessibility of the sector’s services are best serving our diverse community now, and into the future.”
“What is underpinning this bank failure is a number of things, but not least of all, it’s a very niche bank with high exposure to one part of the economy. And that’s the part of the economy that’s been quite volatile and troubled”
The Treasurer has indicated that the federal government is closely monitoring the situation.