The Financial Ombudsman Service is committed to the advancement of dispute resolution by:
1. Reducing disputes or by making them less complex by, for example:
- contributing to clarification or development of laws
- commenting on policies, practices or procedures, and
- identifying, discussing or addressing issues that are known to have given rise to disputes.
2. Raising awareness of the Financial Ombudsman Service across the Australian population.
3. Encouraging members to maintain and develop their internal dispute resolution capability.
We do this through a variety of activities, as set out below.
During the year, the Financial Ombudsman Service delivered over 225 presentations across the country to a variety of audiences (see Locations pie chart and Audiences pie chart).
Some presentations focused on what services we offer and how we operate. Other presentations dealt with more specific issues such as financial hardship, home insurance and home loans. Our work also extended to supporting victims of the Victorian bushfires and investors affected by the global financial crisis.
Over the year we spoke to a range of community based groups across the country. Some examples of the forums at which we were represented are:
- Home Buyers Show (Brisbane, Melbourne and Sydney)
- National Small Business Summit
- National Consumer Conference (Adelaide)
- Hume Region Financial Counsellors’ Network
- Financial and Consumer Rights Council, and
- Riverina Foundation for Aboriginal Affairs.
In addition, we:
- presented to the Townsville Storm Investors Consumer Action Group
- visited disaster areas, such as the flood areas of Queensland, and
- offered advice and support to the communities affected by the bushfires in Victoria.
An example of our efforts to provide relevant information tailored for specific community groups is our participation in the Good Service and Do It Right forums at which we provided information to Aboriginal communities in NSW on:
- maladministration arising in relation to unsolicited increases in credit card limits and personal loans for cars
- financial difficulty
- electronic funds transfer disputes, and
- the Centrelink Code of Operation.
Through this work, we also sought to raise awareness of our service with the community.
Youth targeted workshops based on the Sort It publication were also held. Produced in conjunction with the Telecommunications Industry Ombudsman, Sort It presents a range of case studies based on mobile phone, credit and other debt faced by young people.
See graph of Consumer-community presentations by segment
In response to the Victorian bushfires; and the flooding in Queensland, we established a dedicated bushfire and flooding relief telephone hotline to answer questions and give guidance to affected communities.