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The ABA has called upon Federal and State Australian governments to work together to combat the ongoing problem of elder financial abuse.
“If you’re concerned you are being coerced or taken advantage of financially, I encourage you to contact your bank.” ABA CEO Anna Bligh
This industry guideline: Explains what financial abuse can look like and how it can impact customers and a bank’s relationship with their customers; and Outlines a framework for banks to raise awareness and promote consistent arrangements to deal with suspected cases of financial abuse This guideline reflects good industry practice, and the ABA encourages members… Read more »
Australian banks are urging state and territory governments to adopt consistent laws on powers of attorney to prevent elder financial abuse.