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National power of attorney register to combat financial elder abuse
Baseline minimum standards have been set for powers of attorney, which is “a big leap” to combating elder financial abuse.
Naomi Neilson
The Council of Attorneys-General announced the standards, and the mandatory online register, in Adelaide as part of a coalition to fight elder financial abuse. It has the backing of Bauer Media and support from the Older Persons Advocacy Network, Australian Banking Association and Elder Abuse Action Australia.
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CEO of Australian Banking Association Anna Bligh said the decision is a “major win” for the coalition of banks, Bauer Media and senior advocacy groups, which would be a reform that protects older Australians at risk of abuse.
“Today’s decisions by the nations attorneys general to establish the mandatory national online register of Power of Attorneys will empower bank branch staff who are often at the front line of detection of elder financial abuse,” she said.
The coalition has called on governments to act and establish power of attorney laws that are the same across the country, a national power of attorney (POA) register to check if POA documents are legitimate and current and somewhere to report abuse in each state that can investigate and act.
Ms Bligh said the “leadership” of Attorney-General Christian Porter was “critical” in the meeting and heralded a turning point in the campaign.
“A mandatory national online register will help bank staff check to ensure power of attorney is valid and up to date when a customer comes into a branch as to complete transactions on someone else’s behalf,” Ms Bligh said.
Ms Bligh added the campaign “still has a long way to go” and the register needs to be established “as quickly as possible” to standardised the power of attorney laws across the country for a safer place to report elder financial abuse.
Age Discrimination Commissioner Dr Kay Patterson welcomed the progress of the Attorney-General and called for it to be implemented before July 2021.
“Commitment to a mandatory register for power of attorney documents will be one more measure to reduce the likelihood of financial abuse. I look forward to ensuring that the advance made at today’s meeting of the attorneys-general remains a key priority with defined outcomes,” Dr Patterson said.
