ABA call to action

Following on from our previous story the Australian Bankers Association has called for three things to curtail elder financial abuse, particularly as a result of misuse of powers of attorney.

It has called for nationally consistent laws, a national powers of attorney register and state based investigation teams.

The ABA has joined forces with Bauer Media to expand the existing campaign to tackle elder financial abuse.

Both organisations are calling for increased awareness of this problem and, amongst other things, for people sign a petition seeking to have laws changed to better protect elderly victims.

It is our view that all these suggested reforms are a big step in the right direction, but at the same time standardising laws Australia wide is a daunting task.

We will keep a close eye on this and report further in future posts.



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