Financial complaints surpass 100,000 in Australia in 2024-25

Banking and finance related complaints fell 9% on declining scam-related complaints.

Financial complaints in Australia surpassed 100,000 for the second year in a row, according to data from the Australian Financial Complaints Authority (AFCA).

This is 4% lower than in 2023-24 period, which hit a record 104,871 complaints.

A total of 54,581 complaints were reported for banking and finance for the 2024-25 period, 9% lower than in 2023-24, AFCA said, based on preliminary data on 30 June 2025.

Scam-related complaints decreased 45% to 5,977, which contributed to the overall decline in banking and finance complaints.

“AFCA currently only sees a small proportion of scam complaints, and towards the end of the financial year we saw an uptick in some scam types that cause great harm,” said David Locke, chief ombudsman and CEO of AFCA.

“The number of scam cases are far too high and behind every case is a consumer who has been traumatised and often suffered life changing impacts,” Locke said.

Meanwhile, there were 34,231 general insurance complaints, a 17% increase from a year earlier.

Superannuation complaints fell 16% to 6,164; whilst investments and advice, and life insurance complaints, rose by 18% and 5%, respectively.