Contents
- About this Annual Review
- Year at a glance
- Acknowledgement of country
- Board Chair message
- Chief Executive Officer and Chief Ombudsman message
- Organisational overview
- AFCA Independent Review
- Complaints
- Who complained to AFCA?
- Overview of complaints
- Open cases
- Closed cases
- Banking and finance complaints
- Buy now pay later
- Scam complaints
- Financial difficulty complaints
- Small business complaints
- General insurance complaints
- Significant events
- Life insurance complaints
- Superannuation complaints
- Investments and advice complaints
- Cryptocurrency
- Complaints lodged by Aboriginal and Torres Strait Islander peoples
- Complaints lodged by consumer advocates and financial counsellors
- Complaints lodged by paid representatives
- Complaints outside AFCA’s Rules
- AFCA’s Systemic Issues function
- AFCA’s Code compliance and monitoring functiong
- Engagement, awareness and accessibility
- Corporate information
- AFCA General Purpose Financial Report
- Glossary
About this Annual Review
This Annual Review of the Australian Financial Complaints Authority (AFCA) details our operations and performance between 1 July 2022 and 30 June 2023.
The Review outlines how we have met our strategic priorities, purpose and vision, and our challenges over the financial year.
Unless otherwise stated, complaints data in this Review relates to complaints AFCA received during the 2022–23 financial year.
The Review meets the reporting requirements for external dispute resolution (EDR) schemes set out in Australian Securities and Investments Commission (ASIC) Regulatory Guide 267.
The 2022–23 AFCA Datacube shows complaints data about AFCA members and provides some of the information required under ASIC Regulatory Guide 267. Find out more at data.afca.org.au.
Published October 2023.
About the artwork
In recognition of our Reflect RAP, AFCA commissioned artwork by Edwin Lee Mulligan for our Melbourne and Sydney offices. The artwork is symbolic for our people and is a constant reminder of our reconciliation journey.
Edwin named the artwork Ngalimba, meaning loving energy: finding strength to help others. At AFCA, we walk alongside people from different backgrounds to ensure fair outcomes to financial disputes.
“This painting is about the first time I saw my Grandfather’s Country. Walking this Country,
I realised each step represented each passing day. This work is about finding your inner strength to walk with others,” Edwin said.
