Australian Financial Complaints Authority

Today is the United Nations International Day for the Elimination of Violence Against Women. Family and domestic violence remains a pervasive problem worldwide, and one which we see first-hand at AFCA. Financial abuse is a form of family and domestic violence. It can have long-term impacts on someone’s financial wellbeing and independence. In the last financial year, we received 822 complaints from people who disclosed lived experience of family and domestic violence. Our people are trained to handle complaints with compassion and safety. We also engage with consumer advocates who support clients that have been impacted by family and domestic violence. We have shared information and resources for consumer advocates on our website: https://lnkd.in/gAc-xPwP

Transgender Day of Remembrance is a day dedicated to honoring transgender lives that were tragically taken by transphobic violence and discrimination. Today, we mourn those whose lives were tragically taken and acknowledge the loss on their loved ones and communities.

After an extensive recruitment process, AFCA is pleased to announce the appointment of Matthew Martin to the role of Senior Ombudsman, Financial Difficultly, which sits in AFCA’s Banking & Finance team. Matthew joins AFCA with deep experience and expertise in credit law. He is well known and highly respected among industry and consumer advocate groups for his work in credit and mortgage stress. In his most recent role as the Legal Director of Mortgage Stress Victoria, Matthew led a diverse team focused on educating and influencing the financial sector and beyond on the complexities of financial difficulty. Prior to Mortgage Stress Victoria, Matthew has held a number of legal and executive roles including at WestJustice. We look forward to welcoming Matthew to the AFCA team beginning 16 December 2024.

Happy Guru Nanak Sahib to those who are celebrating today! This day commemorates the birth of Guru Nanak Sahib, the founder of Sikhism and the first Sikh Guru.

AFCA has completed its latest update of the AFCA Datacube, which makes complaints data publicly available to consumers and financial firms. This update adds data covering firms with four or more complaints from 1 July 2023 to 30 June 2024. The AFCA Datacube is part of AFCA’s commitment to providing access to its data in a transparent and useful way. Visit data.afca.org.au to get started.

This week is Transgender Awareness Week, leading up to Transgender Day of Remembrance on Monday 20 November. This week is about raising awareness of transgender and gender diverse people and the issues their communities face. Find out more: tdor.org.au

AFCA has just released its latest Systemic Issues Insights Report for January to June 2024. During this period, AFCA initiated 114 investigations into systemic issues, and ensured more than $4 million in remediation was returned to impacted consumers. Head to AFCA’s Systemic Issues page for full details: https://lnkd.in/gqXY8Ymw

On this Remembrance Day, we remember all those who volunteered, sacrificed, served and fought for our country. Lest we forget.

AFCA is seeking feedback on two key Approach documents for handling general insurance complaints:   • Updated: Approach to non-disclosure and misrepresentation   • New: Approach to the duty to take reasonable care not to make a misrepresentation The consultation runs from Wednesday, 6 November 2024 to Wednesday, 27 November 2024. We encourage stakeholders to review the Approach documents and share their feedback. Your feedback is essential for us to enhance our processes and ensure consistent, transparent outcomes for all. Visit the consultation page for more details and to submit your feedback: https://lnkd.in/gQSxEEMe

Happy Diwali to all those celebrating the festival of light!