Australian Financial Security Authority
AFSA has released a report highlighting the impact untrustworthy advisors have in the personal insolvency system and the risks they present in an unpredictable economic environment. People facing financial hardship and those concerned about losing their assets and homes can be prime targets.
The report details common tactics which may be signs of untrustworthy advisor activity and discusses the consequences of bad advice.
The report also explains how debtors, creditors, insolvency practitioners and financial counsellors can work with AFSA to tackle the issue of untrustworthy advice in the insolvency system.
The full report is available on the AFSA website.
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