Contents
- About this Annual Review
- Year at a glance
- Board Chair message
- Chief Executive Officer and Chief Ombudsman message
- Organisational overview
- Complaints
- Who complained to AFCA in 2023–24?
- AFCA Engagement with First Nations peoples
- 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 consumer advocates and financial counsellors
- Complaints outside AFCA’s Rules
- Systemic issues
- AFCA’s Code compliance and monitoring function
- Engagement, awareness and accessibility
- Corporate information
- AFCA General Purpose Financial Report
- Glossary
About this Annual Review
This Annual Review of AFCA details our operations and performance between 1 July 2023 and 30 June 2024.
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 2023-24 financial year.
The percentages presented have been rounded for clarity and, as a result, may not equal 100%.
The Review meets the reporting requirements for external dispute resolution (EDR) schemes set out in Australian Securities and Investments Commission (ASIC) Regulatory Guide 267 and in AFCA’s Rules A.19 and A.20.
The information presented in each case study is for educational purposes only. The case studies have been edited for clarity and brevity, and certain details may have been modified or omitted to ensure confidentiality and protect the privacy of the individuals involved.
The 2023-24 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 2024.
Acknowledgement of country
The Australian Financial Complaints Authority (AFCA) acknowledges the Traditional Custodians of this land, and we pay our respects to Elders past, present and future – for they hold the song lines, the stories, the traditions, the culture and the hopes of First Nations Australia.
This land is, was, and always will be traditional First Nations Country.
We also acknowledge and pay our respects to the Traditional Custodians of the lands on which we work, including the Wurundjeri, Boon Wurrung, Wathaurung, Daungwurrung and Dja Dja Wurrung peoples of the Kulin Nation and the Gadigal people of the Eora Nation.
You can read about our work with First Nations peoples here.
