AFCA
30 results tagged AFCA:
900 victims a month in ‘worrying’ scam trend
More than 10,000 scam victims left high and dry by banks, and a quarter of a million Aussies dob in a tax cheat. Here are five things you may have missed this week.
Financial complaints hit record high
The Australian Financial Complaints Authority (AFCA) received a record number of complaints in the 2024 financial year, jumping 9% to more than 105,000.
AustralianSuper bears brunt of complaints: AFCA
AustralianSuper copped the highest number of complaints in the last six months of 2023, nearly three times more than other major super funds like Cbus, Australian Retirement Trust, and Aware Super.
Aussies compensated for dodgy financial advice
The Compensation Scheme of Last Resort has made its first payments to four victims totalling more than $360,000, three of which related to bad financial advice.
AFCA to expel Dixon Advisory
The Australian Financial Complaints Authority is set to kick out Dixon Advisory in June, and will no longer accept victim complaints about the company.
Ask Paul: I’m a pensioner and my portfolio is now worth 4 cents a share
Pensioner Trevor has watched his shares crash by 96%. He asks Paul Clitheroe if there is there any recourse for him to get his money back.
Are lenders letting down customers experiencing financial hardship?
A spike in complaints to the Australian Financial Complaints Authority has raised concerns that some lenders are failing to support struggling customers.
Compensation scheme for financial misconduct victims begins
The new Compensation Scheme of Last Resort is set to pay out millions in coming years, including to former Dixon Advisory clients.
Financial complaints hit record high
The Australian Financial Complaints Authority received a record 102,790 complaints last year. Staff say that number is unsustainable.
China to offer home loans to 80-year-olds
Banks in China offer home loans to 80-somethings, plus how much can you really save living at home? Here are five things you may have missed.
