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Australian Financial Complaints Authority

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The Office of the Australian Information Commissioner has identified flaws in American Express’s security systems.

‘Sensitive personal information’: Leaked report reveals American Express security failures

The privacy watchdog wants American Express to overhaul its technology systems after a lengthy investigation found they were exposed to insider threats.

  • Charlotte Grieve and Julie Lewis

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HSBC customer Katrina Qian was targeted by scams.

Scammers stole almost $50,000 from Katrina. Her bank offered her ‘goodwill’ instead of getting it back

Many Australian scam victims are in a seemingly hopeless battle to recoup devastating losses, while federal scam reforms “sit on a shelf”.

  • Aisha Dow
Suspected fraudsters are gaining access to thousands of Australian bank accounts each year.

No-ID-necessary accounts make Australians an easy target for fraudsters

Some accounts are stolen, some are bought and some are just plain fake, but all are used to reap millions of dollars from scams.

  • Aisha Dow
ASIC chair Joe Longo at an Autralian Institute of Company Directors’ conference this month after announcing the regulator was suing AustralianSuper.

Grieving Australians are suffering because of super fund failure: ASIC

The corporate watchdog has blasted top superannuation executives for failing to prioritise grieving families when paying out their members’ death benefits.

  • Sumeyya Ilanbey
Somewhere along the way, disabled and bereaved Australians trying to make claims through their super funds have been let down at their most vulnerable.

‘Why do you make it difficult?’: Big super in big trouble over delayed claims

Three decades after the Keating government set up the superannuation system, a large cohort of Australians is now seeking to claim their entitlements – and they’re not impressed.

  • Sumeyya Ilanbey
Laura Embry (right) is one of the thousands of Australians who has fallen victim to sophisticated scammers. Her father, Garry, is outraged at how Laura has been treated.

Scammers are targeting Australian bank customers. But there’s one key thing you can’t know

Partially censored data suggests fraudsters are finding certain banks much easier targets than others.

  • Aisha Dow
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Assistant Treasurer and Minister for Financial Services Stephen Jones says prevention of scams is the first line of defence

Complaints surge about banks not doing enough to prevent scams

Australians’ complaints over payment scams have grown exponentially. Should banks be on the hook to reimburse customers?

  • John Collett
Royal commissioner Kenneth Hayne recommended a compensation scheme of last resort

Long-awaited investor compensation scheme gets under way

A compensation scheme offering up to $150,000 to consumers who have experienced misconduct is now operating.

  • John Collett
Justin Untersteiner, chief operating officer at the Australian Financial Complaints Authority, says there has been a spike in complaints.

Frustration as waiting times blow out at financial complaints body

A surge in complaint numbers is causing a backlog at the Australian Financial Complaints Authority, with waiting times of up to 34 weeks.

  • John Collett
AFCA chief executive David Locke said

‘Unsustainable rate’: Financial complaints hit record 100,000 a year

Australian Financial Complaints Authority chief ombudsman David Locke says financial firms could do better at handling complaints to ease pressure on the financial dispute resolution scheme.

  • Millie Muroi