CASES REPORTED TO THE AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY:
* 96,987 complaints lodged in 2022/23 monetary yr, a 34 per cent enhance
FINANCIAL DIFFICULTY:
* 53,638 banking and monetary complaints, up 27 per cent
* Financial issue complaints up 9 per cent
* Home mortgage complaints up 10 per cent
* Credit card complaints up 15 per cent
* Buy now, pay later complaints up 57 per cent
SCAMS:
* 6048 scam-related complaints, up 46 per cent enhance
* Personal transaction accounts overtook bank cards as most complained about product with disputes up 86 per cent
INSURANCE DELAYS:
* 27,924 basic insurance coverage complaints, up 50 per cent
* Insurance declare dealing with delay complaints up 76 per cent
* Superannuation complaints up 32 per cent
* Superannuation declare delay complaints up 136 per cent
RESOLUTIONS:
* 86,185 complaints closed
* Average of 69 days to resolve complaints
* $253.8 million in compensation and refunds after coming to AFCA
* $75.5 million remediation secured for 368,602 individuals after AFCA investigations
STATE OF PLAY IN 2022/23 FINANCIAL YEAR:
* ACT 1904 complaints, up 63 per cent
* Tasmania 1187 complaints, up 29 per cent
* NSW 29,804 complaints, up 28 per cent
* Queensland 17,785 complaints, up 26 per cent
* South Australia 5481 complaints, up 26 per cent
* Victoria 26,232 complaints, up 25 per cent
* NT 584 complaints, up 23 per cent
* West Australia 7546 complaints, up 21 per cent
Source: www.perthnow.com.au
