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Banks issue updated financial abuse guidelines By Malavika Santhebennur 07 April 2021
Australian banks have launched updated guidelines on financial abuse to ensure that staff are equipped to recognise signs of financial abuse.
The Australian Banking Association (ABA) has announced the launch of the updated guidelines on financial abuse by the banking industry as part of their continued focus on responding to family violence and elder abuse.
The revised guidelines – which were last updated for family and domestic violence in 2016, and financial abuse in 2014 – are designed to recognise increases in cases of financial abuse during times of major crises such as the coronavirus pandemic, droughts, floods and bushfires, according to the ABA.
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What we can do to stop Indigenous deaths in custody
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By Hannah McGlade
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With more than 470 deaths since the Royal Commission into Aboriginal Deaths in Custody 30 years ago, and news over the Easter weekend of a fifth person dying since the start of March, Aboriginal pain and suffering are palpable. This is a national crisis deserving national attention and urgent action.
The federal government is claiming the 339 recommendations of the royal commission have been largely implemented, but recent Aboriginal deaths highlight those that were not implemented. These deaths were preventable and should not have occurred.
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Banks unite to help customers experiencing financial abuse
Australian banks are launching updated guidelines on financial abuse as part of their continued focus on responding to family violence and elder abuse.
The updated industry-wide approach is designed to ensure bank staff are equipped to recognise signs of financial abuse.
“This kind of behaviour is a form of domestic violence. It can be an enabler for partners to keep women trapped in abusive and often dangerous relationships”, said ABA CEO Anna Bligh.
“It’s also used against the elderly. Elder abuse can take many forms; coercing someone to sign, forging signatures, withholding access to money.”