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Opinion

Deborah O'Neill

Banks, insurers must do better on silent epidemic of financial abuse

There are the men who perpetrate financial abuse, but there are also the platforms which have for too long been unprepared to confront the damage they facilitate.

Deborah O'NeillLabor Senator

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The final report of the parliamentary inquiry into financial abuse was tabled last Thursday. Hopefully, this marks a turning point in a crisis that has for many years been ignored by the very sector that holds the power to either enable or prevent it – the financial services industry.

The evidence is clear: financial abuse is a silent epidemic that ruins the lives of women and children. There are the men who perpetrate financial abuse, but there are also the financial platforms they use, which have for too long been unprepared or unwilling to confront the damage they facilitate.

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Deborah O'Neill is a senator for New South Wales.

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