As part of AFCA’s commitment to transparency and sharing key systemic issues insights with consumers, members and stakeholders, AFCA has published the latest edition of its Systemic Issues Insights Report.
The report shares data and findings from a range of recent systemic issues cases across the industry, helping financial firms improve industry practice.
Between January and June 2023, AFCA identified and investigated systemic issues resulting in more than $61 million in remediation being returned to 145,480 consumers, compared with $38 million returned to 186,924 in the previous report covering July to December 2022.
Published: 18 October 2023
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The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes. It is a one-stop-shop for consumers and small businesses who have a dispute with their financial firm, over things such as banking, credit, insurance, advice, investments or superannuation. Where an agreement cannot be reached between parties, AFCA can issue decisions that are binding on financial firms.