AFCA COVID-19 complaints

The Australian Financial Complaints Authority (AFCA) has announced it received over 3180 COVID-19 related financial complaints since the coronavirus (COVID-19) was declared a pandemic in March up to 26 May 2020.

AFCA’s Chief Operating Officer says the COVID-19 related complaints included 1430 banking and finance complaints (with 680 of these relating to financial difficulty), 1070 general insurance complaints, and 610 superannuation complaints.

A majority of these complaints have been about loan break costs, disputed transactions, requests to extend payment terms, denial of travel insurance claims, as well as delays in early release of superannuation.

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David Jacobson

Author: David Jacobson
Principal, Bright Corporate Law
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.

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