Key Issues: Construction loan | Small amount lender | Unauthorised transactions | Not acting in line with good industry practice | Not acting within standards set out in Code of Practice
The consumer’s complaint relates to a number of unauthorised transactions that were made from his account with the FSP.
We found that this claim was made out and recommended that the FSP refund the consumer part of the funds withdrawn from his account, being $56,011.95.
The consumer claimed that the FSP inappropriately allowed his ex-wife to conduct withdrawals from his account.
Follow this link for a full copy in PDF
Recommendation - 1 June 2016