{"id":83708,"date":"2026-07-15T19:19:39","date_gmt":"2026-07-15T19:19:39","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/83708\/"},"modified":"2026-07-15T19:19:39","modified_gmt":"2026-07-15T19:19:39","slug":"financial-complaints-authority-defends-track-record-after-hsbc-scam-capital-brief","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/83708\/","title":{"rendered":"Financial complaints authority defends track record after HSBC scam \u2014 Capital Brief"},"content":{"rendered":"

Financial complaints authority defends track record after HSBC scam \u2014 Capital Brief<\/p>\n


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Scam victims say the saga raises governance questions about how the complaints body is run.<\/p>\n

<\/p>\n

The HSBC impersonation scam has invited greater scrutiny of AFCA.
\nShutterstock.<\/p>\n

The Australian Financial Complaints Authority (AFCA) has defended its track record in engaging with victims as it is elevated to a key role in the nation\u2019s renewed fight against scams.<\/p>\n

Amid a rising tide of misconduct and AI-generated reports, the ombudsman received a record number of complaints last financial year, causing delays and triggering staunch criticism from scammed HSBC customers who feel they were failed<\/a> by its processes.<\/p>\n

\u201cSome victim-survivors have described feeling pressured by their AFCA case workers to accept settlements that did not reflect their losses because they believed there was no realistic alternative,\u201d Scam Victims Alliance (SVA) president Harriet Spring said in a letter, viewed by Capital Brief and sent to AFCA on Thursday.<\/p>\n

Last month, HSBC was ordered to pay $35 million for its failure to protect customers<\/a> from systemic fraud.<\/p>\n

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Topics:
\nBanking<\/a>,
\nFinancial services<\/a>,
\nRegulation<\/a>,
\nASIC<\/a><\/p>\n

\n\u00a9 2026 Capital Brief Pty Ltd\n<\/p>\n

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