Australian banks, along with seniors groups and the Financial Services Union (FSU), have called on lawmakers to proceed with laws for suspected elder financial abuse.
In February, banks renewed their push for change and urged federal, state and territory governments to have key policy changes decided by Christmas.
These changes include standardised power-of-attorney orders across states and territories, an online register of power-of-attorney orders and a designated safe place for local bank staff and members of the public to report suspected abuse.
Australian Banking Association (ABA) chief executive Anna Bligh said this was a chance for all Australians to show their support and call on lawmakers to make the changes needed without further delay.
“While elder abuse can take many forms, elder financial abuse is one of the most common forms and one that local bank branch staff witness regularly,” Bligh revealed.
“Bank staff unfortunately all too often see people who are their customers being pressured to give access to their accounts, all too often see their accounts being drained by family members, by friends that they trust and care about.
“This is a really difficult, complex problem, but there are things that can be done about it.”
The ABA, National Seniors Australia, Council on the Ageing, Older Persons Action Network and FSU today launched a new campaign inviting Australians to write to their state or territory attorney general to demand faster action.
“The last meeting of attorneys general was an important step in taking action, however, every day we delay, the problem continues and grows in our community,” Bligh said.
