Annual Review 2022–23
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
AFCA is governed by a Board of Directors.
The Board of Directors consists of an independent Chair and an equal number of Directors with consumer and industry experience.
The Board exercises its powers to ensure the independence, integrity and fairness of AFCA’s decision-making process is maintained. The Board also makes sure AFCA is appropriately resourced to deliver our services in a timely, efficient and effective manner.
The Board is responsible for appointing an independent Chief Ombudsman and CEO, who is delegated authority for the day-to-day management of AFCA.
The Board also appoints ombudsmen, adjudicators and panel members who make decisions on complaints dealt with by AFCA. AFCA’s Company Secretary and the Independent Assessor are also appointed by the Board.
During 2022–23, the Board met six times, in accordance with its scheduled meetings.