Australia's Parliamentary Joint Committee on Corporations and Financial Services has launched an inquiry into whether financial institutions are doing enough to prevent and address financial abuse.
Prompted by concerns over the shift to online services and the need to protect vulnerable customers, the inquiry aims to evaluate the effectiveness of current laws and identify areas for reform. "With the shift to online services, we need to investigate how family and domestic violence has shifted there too, and whether our regulatory systems are equipped to adequately deal with it," said Senator Deborah O'Neill, Chair of the Joint Committee.
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