Tuesday, January 17, 2012

Lili's thought for the day

The Financial Ombudsman Service (Australia) is not an ombudsman in the accepted sense of the word. By all appearances, it is merely a dispute resolution service. Big difference. If you are a whistleblower who has witnessed a misdeed that was done by or involved a bank or financial institution, or has discovered that the bank or financial institution's normal procedures are not secure, I can't see how the Financial Ombudsman Service can intervene in such a situation. If you have witnessed a third party being wronged by a bank or financial institution, or through the misuse of the services of a financial institution or bank, I can't see how the FOS could take a role in that matter either. Some service.


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