Red Flags is a reporting initiative that we launched to ensure we hear about issues that cause harm to consumers when they borrow money. It aims to help consumer advocates, like budget advisors and community lawyers, better identify lender conduct that may be unlawful and to make a report to us.
We value the contribution from the consumer advisory sector who are in a position to alert us to market practice that may not come to our attention otherwise.
Some significant enforcement outcomes were the result of reports initiated by consumer advocates. We recognise that not all borrowers may know what to do when they think their rights are infringed or have the confidence to come forward to the right authorities.