The National Australia Bank (NAB) has assured customers that its new regulations surrounding financial abuse will not be open to misuse following the announcement of the new rules. On June 26, NAB announced it would be updating its terms and conditions to allow the bank to financially ‘cut off’ customers who’ve been identified as perpetrators…
Bank to Suspend, Cancel Accounts of Customers Engaged in ‘Financial Abuse’
July 18, 2023
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The National Australia Bank (NAB) has assured customers that new rules that allow it to “cut off” customers identified as perpetrators of financial abuse will not be open to misuse. On June 26, NAB announced it would be updating its terms and conditions saying the bank will suspend, cancel, or deny access to savings and…
Elder Abuse: ‘I Feel for the Families,’ Says Seniors Support Consultant
When 81-year-old David Jansen ended up in hospital last year, a friend and a relative visited regularly and offered to look after his affairs and serve as his power of attorney. “I was very sick with a high fever and could hardly breathe or see,” Jansen told The Epoch Times, using a pseudonym due to…
Millennial: How to Prepare Your Finances for a Breakup
Breaking up sucks—even if it’s necessary and you’re better off without them. Emotions loom large and life changes. Your to-do list fills up with loaded logistics, like figuring out who gets the cat or how the heck you’ll afford to live alone. We don’t know what to tell you about the cat, but we can…
Australia Loses More Than $10 Billion a Year Over Financial Abuse
Approximately 600,000 Australians suffered from financial abuse in 2020, causing the victims and the economy to lose $5.7 billion (US$4.1 billion) and $5.2 billion, respectively, Deloitte research has found. Over 400,000 women and nearly 200,000 men in Australia have experienced financial abuse. Additionally, the cumulative adverse effect of people being impeded from working themselves and…
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