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Encourage the Australian Bankers' Association to develop family violence industry guideline

Recommendation:
111
Status:
Implemented

Who is leading the change

  • Department of Treasury and Finance

The Victorian Government encourage the Australian Bankers’ Association, through its Financial Abuse Prevention Working Group, to develop a family violence–specific industry guideline. This should be supported by training and education for relevant banking staff, to help them understand, identify and deal with economic abuse associated with family violence.

  • As part of our approach, the Minister for Finance consulted with the Australian Bankers' Association to identify opportunities to address economic abuse and hardship. Steps taken include:

    • working with the Australian Bankers' Association to raise awareness of the findings of the Royal Commission into Family Violence and the prevalence of this type of economic abuse
    • seeking cooperation from the Australian Bankers' Association to develop an industry guideline specific to family violence. This would provide bank employees with guidance and training to understand, identify and respond to economic abuse
    • following up with the Australian Bankers' Association to identify further policies and initiatives that the sector could implement

    The Minister for Finance and the Minister for the Prevention of Family Violence jointly wrote to the Chief Executive Officer of the Australian Bankers' Association. They requested the development of a family violence guideline specific to the banking sector, and requested that bank employees are trained to assist in identifying and responding to family violence.

  • While this recommendation has been implemented as the above activities are complete, the Minister for Finance will continue to work with the Australian Bankers' Association on this recommendation to improve the support provided to family violence victim survivors by the banking sector.

  • Implemented.

Reviewed 17 May 2020

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