Annual Review 2023-24
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
As of 30 June 2024, AFCA had 29,236 open cases, reflecting a 1% increase from the 28,824 open cases reported on 30 June 2023. The distribution of open cases was as follows:
Banking and Finance: 12,013 complaints
General Insurance: 8,718 complaints
Superannuation: 2,167 complaints
Investments and Advice: 4,667 complaints
Life Insurance: 1,712 complaints
Open cases at the end of the last five financial years
Open cases by age
|
Age |
As at 30 June 2020 |
As at 30 June 2021 |
As at 30 June 2022 |
As at 30 June 2023 |
As at 30 June 2024 |
|---|---|---|---|---|---|
|
0-30 days |
7,619 |
5,277 |
6,139 |
7,514 |
7,027 |
|
31-60 days |
3,982 |
3,110 |
3,501 |
4,800 |
5,294 |
|
61-180 days |
4,568 |
4,530 |
4,099 |
8,565 |
8,270 |
|
181-365 days |
1,926 |
2,014 |
2,027 |
4,696 |
3,605 |
|
More than 365 days |
1,618 |
1,492 |
2,060 |
3,249 |
5,040 |
Open cases by stage of process
|
Stage |
As at 30 June 2020 |
As at 30 June 2021 |
As at 30 June 2022 |
As at 30 June 2023 |
As at 30 June 2024 |
|---|---|---|---|---|---|
|
Registration and referral |
8,968 |
5,904 |
7,567 |
11,638 |
6,226 |
|
Case management |
8,705 |
8,082 |
8,261 |
14,263 |
17,521 |
|
Rules review |
632 |
646 |
712 |
1,593 |
3,151 |
|
Decision |
1,408 |
1,791 |
1,286 |
1,330 |
2,338 |
