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In support of Scams Awareness Week, ASIC is warning consumers of the key signs of a crypto scam and advising what to do if you’ve been scammed. Crypto scams fall into three broad categories, including: scams where you think you’re investing in a genuine asset but it’s a fake crypto exchange, website or app; fake…
Read More ASIC’s top-10 ways to spot a crypto scam
The Customer Owned Banking Association (COBA) has introduced a new industry Code of Practice that comes into effect today, with changes increasing protections for customers experiencing vulnerability including elder abuse, domestic violence and disability. The 2022 Customer Owned Banking Code of Practice replaces the 2018 version and was developed through an independent review by Phil…
Read More Vulnerable consumers supported by new Code of Practice for customer-owned banks
In light of rapid increases to the cost of living, the peak body for communications consumers has welcomed new measures announced in this week’s federal budget to improve the affordability of communications services and boost digital inclusion across the nation. This echoes calls made by the Australian Communications Consumer Action Network (ACCAN) to establish a…
Read More Affordability and digital inclusion measures welcomed by advocates
An Albanese Government initiative to help reduce the cost of insurance in communities at risk of natural disasters, will enhance mitigation measures and drive better outcomes for insurance holders. The Hazard Insurance Partnership and Strategic Insurance Project aims to address rising insurance premiums and help communities be better prepared for disasters. Federal Minister for Emergency…
Read More Federal Government to develop standard insurance definitions and review standard cover regime
ACCC Chair Gina Cass-Gottlieb has welcomed the Governor General’s recent appointment of Catriona Lowe as ACCC Deputy Chair and applauded the contribution of departing Deputy Chair Delia Rickard. Ms Lowe has been appointed for a five-year term from 27 January 2023 when Ms Rickard will finish her term after more than a decade with the…
Read More ACCC pays tribute to Delia Rickard, welcomes Catriona Lowe as Deputy Chair
The Australian Government has released a factsheet to provide information on what to do if your data has been compromised in the recent Medibank and AHM cyber incident. If you think you may be affected by the breach, contact Medibank Private on 13 23 31 or AHM on 13 42 46. If you are concerned…
Read More Guidance for consumers impacted by the Medibank Private and AHM cyber incident
Front: Amy Pereira (2022 mentee), Dana Beiglari (2022 mentee), Rebekah Sarkoezy (2021 mentee). Back: Roberta Grealish (2021 mentee), Franco Morelli (2022 mentee), Sarah Black (2022 mentee), Deb Shroot (2022 mentee), Elissa Freeman (Mentoring Program coordinator). Pictured at the 2022 Mentoring Program networking event in Sydney.
Expressions of interest for the 2023 CFA Consumer Advocacy Mentoring Program are now open, due by 1st November 2022. Please share this item with emerging leaders in your organisation who may be interested in applying for the 2023 program. “Can’t thank you enough for running this excellent program. Becoming part of the wider consumer advocate network,…
Read More Apply to join CFA’s 2023 Mentoring Program
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A recent ASIC surveillance found that some fund managers must do more to ensure the investment performance representations in their fund’s marketing materials are appropriate. This is a media release from the Australian Securities & Investments Commission (ASIC). It was originally published on 8th September, 2022. Thirteen responsible entities or trustees of investment funds have voluntarily…
Read More Managed funds amend their marketing following ASIC surveillance
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Breaches of the Banking Code of Practice rose 19 per cent in the second half of 2021, according to the latest compliance report by the Banking Code Compliance Committee (BCCC). This is a media release from the Banking Code Compliance Committee (BCCC). It was originally published on 8th September, 2022. The report, Banks’ Compliance with the Banking Code of…
Read More Banking Code breaches need to come down
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In part two of CHOICE’s investigation, we look at the problems faced when trying to get a repair or refund. It’s July 2022 and Marilyn and Peter are sitting in the Cairns office of the Indigenous Consumer Assistance Network (ICAN). They’ve been waiting for this day for a long time. This is an article from CHOICE.…
Read More Car sales in remote Indigenous communities: A broken system
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CHOICE travels to the remote Indigenous community of Wujal Wujal in Far North Qld to investigate dodgy motor vehicle sales. Cedric Friday says that every time he looks at his broken-down Holden Captiva it makes him angry. The second-hand car that he and his brother-in-law spent $19,000 on sits immovable in his driveway. This is…
Read More Remote Indigenous communities left with broken cars and no redress
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Australians are facing the perfect storm for increased financial insecurity in the next 12 months, making them vulnerable to dodgy insolvency advice. On the back of a tough few years of fire, drought, flood and the pandemic, rising interest rates and cost of living pressures mean that more Australians may struggle to pay their bills…
Read More Worried about debt? Talk to your bank or creditors and avoid dodgy advice, warns AFSA
