https://au.sports.yahoo.com/bank-crackdown-financial-abuse-021400799.html
shared >
One of the Big Four banks is taking steps to stamp out financial abuse, allowing bankers to “cut-off” customers found to be financial abusers.
National Australia Bank (NAB) on Monday flagged a November update to its terms and conditions to include “unacceptable account conduct” — meaning the bank can suspend, cancel, or deny individuals access to their accounts if it’s believed they’re financially abusing another person. “Financial abuse can take many forms including where an individual is denied access to their own funds or has their funds misused by another individual,” Mr Chambers said.
“This form of control can occur between couples, family members or relationships where one person is providing care for another.
“We’re taking a firm stand against financial abuse, and we aren’t resting there. We’re working with other banks to help develop a consistent approach across the industry.”
