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 issue cases across the industry, helping financial firms improve industry practice.
Between January and June 2024, AFCA commenced investigation into 114 systemic issues. AFCA’s systemic issues work ensured more than $4 million in remediation was returned to 20,040 consumers, and other consumer outcomes were obtained such as the reinstatement of incorrectly cancelled insurance cover and the update and correction of credit reporting information held by credit reporting bodies.
