We work directly with individuals and families that have been impacted by financial abuse and understand the challenges and obstacles experienced by victims when seeking support from banks and other financial services.

Our submission strongly focuses on the impact of financial abuse on older people, given our expertise within our Law Centre (including the specialist Elder Abuse Unit), and because we believe this cohort is increasingly vulnerable to financial abuse due to the rapid changes of digital technology.

We believe banks should have a responsibility to do more to prevent and respond to financial abuse. The transition to online banking has made more customers vulnerable to financial abuse, particularly older people, and protective measures must be put in place to prevent and respond appropriately.