The level of financial abuse around Australia is “absolutely staggering”, according to Commonwealth Bank boss Matt Comyn, and he has called on other financial institutions to help reduce it by targeting perpetrators and supporting victims.

CBA has launched a national advertising campaign to draw attention to free counselling services it will offer beyond its customer base, after a report it commissioned from Deloitte Access Economics found more than 600,000 Australians had experienced financial abuse in 2020, costing victims and the economy $10.9 billion.