Bank to Suspend, Cancel Accounts of Customers Engaged in ‘Financial Abuse’

Bank to Suspend, Cancel Accounts of Customers Engaged in ‘Financial Abuse’
A man walks past a branch of the National Australia Bank (NAB) in Melbourne, Australia, on May 6, 2021. William West/AFP via Getty Images
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The National Australia Bank (NAB) has assured customers that new rules that allow it to “cut off” customers identified as perpetrators of financial abuse will not be open to misuse.

On June 26, NAB announced it would be updating its terms and conditions saying the bank will suspend, cancel, or deny access to savings and transaction accounts if a person is found to have engaged in financial abuse.
Victoria Kelly-Clark
Author
Victoria Kelly-Clark is an Australian based reporter who focuses on national politics and the geopolitical environment in the Asia-pacific region, the Middle East and Central Asia.
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