Financial complaints about banks, insurers surge 9pc to record 105,000 in 2023/24

Most people know the frustration dealing with banks and insurances companies when they have a gripe about their treatment. A new report from the Australian Financial Complaint Authority will ring a few bells because it shows financial complaints rise by 9 percent to 105,000 in the last financial year. The biggest gripes are about the way banks and insurance companies deal with customers, highlighting "cookie cutter" responses where customers are left in the dark. But the surge in complaints has been driven by the prevalence of scams which rose by 81 percent. AFCA's chief operating office Justin Untersteiner spoke with the ABC's senior business correspondent Peter Ryan.