The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
A surge in scam reports has highlighted ongoing challenges as Australians continued to lose significant sums to fraudulent schemes.
Despite efforts to combat scams, reports to the national complaints authority reached unprecedented levels in 2023/24.
The Australian Financial Complaints Authority disclosed in its latest report that over 10,000 scams were reported last year, marking an alarming 81% surge compared with the previous reporting period. While this escalation is troubling, David Locke, chief ombudsman for the authority, noted a decline was observed in the later quarters.
"This decline in reports is heartening, but it's certainly not time for complacency," Locke emphasized. Initiatives by both the federal government and major banks have been cited as contributing factors to the reduction in scam activities.
However, Locke warns that "there is still a long way to go" in effectively addressing and mitigating scams across the board. The authority encountered over 10,000 scam-related cases, resolving 70% within 60 days, showcasing a need for faster and more efficient processes.
The ongoing fight against scams was coupled with a rise in financial distress cases. Complaints spurred by financial hardship increased by 18%, highlighting struggles with home, personal, and credit card loans. Ineffective communication and subpar handling during hardship assistance processes were frequently cited grievances.
Locke conveyed concerns regarding the financial industry’s response to these challenges, stating, "Over the past two years, consumers have faced a record level of premium growth in both car and home insurance." There remains a noticeable scarcity of adaptive measures concerning suitable resources and supportive product frameworks.
This article draws information from a recent AAP-delivered update, outlining critical elements of the Australian financial landscape over the past year. Navigating the complex web of financial fraud demands concerted efforts-from improving customer service to designing products focused on resolving grievances swiftly.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
The Reserve Bank of Australia's latest decision to leave the cash rate unchanged keeps borrowing conditions steady for now, but it does not remove the need for careful finance planning. For Australian riders looking at a new commuter bike, a touring upgrade or a used weekend machine, the message is straightforward: stable official rates may support confidence, yet individual motorcycle loan costs still vary widely. - read more
Fresh personal loan comparisons across the Australian market are a useful reminder for motorcycle buyers: the cheapest-looking rate is not always the lowest-cost way to fund a new or used bike. Recent market updates continue to show meaningful differences between lenders, including advertised interest rates, comparison rates, upfront fees, ongoing charges and eligibility settings. - read more
Australian riders shopping for a new or used motorcycle have fresh reason to look closely at their finance options, with Canstar’s latest motorcycle loan comparison updated on 21 July 2026 highlighting a wide spread of advertised rates, comparison rates, fees and eligibility settings across the personal loan market. - read more
Australia's motorcycle market has carried its early-year momentum into the end of the June half, with FCAI-audited sales reaching 46,023 motorcycles, scooters and off-highway vehicles between 1 January and 30 June 2026. That is an 8.2% lift on the same period in 2025 and the strongest first-half result reported since 2022. - read more
Regular maintenance is crucial for ensuring the longevity and safety of your motorbike. Neglecting maintenance can result in a host of problems that can put your safety at risk and lead to costly repairs down the line. By performing routine maintenance, you can prevent problems before they arise and keep your motorbike running smoothly. - read more
Motorbikes have become an increasingly popular mode of transportation in Australia, offering freedom, convenience, and adventure to riders. Whether it's commuting through busy streets or exploring scenic routes, motorbikes present an appealing alternative to traditional vehicles. - read more
Financing a motorcycle in Australia can be a helpful option for individuals who want to own their own bike but may not have the immediate funds to do so. Motorcycle financing allows you to spread out the cost of the purchase over a period of time, making it more affordable and manageable. - read more
Motorcycle loans have become an essential financial tool for many Australians looking to hit the open road on two wheels. With a growing popularity of motorcycles, understanding the ins and outs of financing these vehicles is crucial. In Australia, there are various loan options available, each tailored to different needs and circumstances. - read more
Start Here
Knowledgebase
Gross Domestic Product (GDP): The total value of all goods and services produced within a country’s borders in a specific time period.
No comments yet. Be the first to share your thoughts.