ASIC has released a new summary document detailing strategies for identifying and aiding First Nations consumers who are experiencing or are at risk of financial abuse.
The initiative follows a virtual workshop held on March 14.
During the March workshop, which included various financial services industry representatives, discussions focused on community-led solutions that could help support vulnerable consumers.
“The workshop provided context on the unique cultural circumstances and experiences of First Nations consumers, and highlighted opportunities for improvements across a range of financial service providers to ensure First Nations consumers impacted by financial abuse are appropriately and sensitively supported,” ASIC said in a media release.
See LinkedIn post here.
ASIC has announced plans to continue these efforts with another workshop scheduled for June. This session will concentrate on best practice engagement strategies for First Nations consumers and communities, aiming to foster a deeper understanding and more effective support mechanisms within the financial services sector.
These workshops are a part of ASIC’s ongoing commitment under its Indigenous Financial Services Framework to improve financial services for Indigenous Australians.
Interested parties can find further details and updates on ASIC’s Financial Services Industry Engagement.
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