Financial abuse reportedly on the rise as bank blocks one million transactions

The big banks have noticed an increase in financial abuse, where in some cases, abusers are transferring money to victims with threatening messages.

Head of customer vulnerability at the Commonwealth Bank, Caroline Wall, says abusers go this route after they’ve been blocked elsewhere.

“You can’t stop people sending you money … we’re seeing is a high level of low-value transactions, it can be as little as one cent,” she told Jacqui Felgate.

Press PLAY to hear what the banks are doing to prevent financial abuse

She also revealed the Commonwealth Bank have had to block over one million transactions over the course of two and a half years.

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