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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.”