Looks like a bank, talks like a bank, but actually…

Investment in unsupervised finance and debenture companies can be risky as such companies are not subject to the APRA regulations and prudential standards. Many investors underestimate the risks involved because some companies can create the appearance of being banks through practices such as providing BSB numbers and professional associations. Consumer Action has said that tighter regulations are needed to protect vulnerable investors.

Click here for the full article by the Consumers’ Federation of Australia.


Michael Duncan