The Australian Financial Security Authority (AFSA) has today released its Annual Report 2022-23, highlighting the agency’s operations and achievements in the last financial year.
The full report is available now at Annual reports and will also be available on transparency.gov.au in the coming weeks.
Throughout 2022-23, AFSA continued its work to become a visible, modern and contemporary regulator that supports a strong credit system for Australia.
The Annual Report outlines how AFSA is meeting its responsibilities by fostering positive economic and social outcomes and supporting people to interact positively with the credit system. The agency's work is underpinned by its efforts to scan the environment and respond to changes in the ecosystem.
Highlights from the year included:
- Delivering world-class services, with survey results showing a 93.8% client satisfaction rate across almost 50,000 calls received
- Developing the ‘State of the personal insolvency system’ report, providing stakeholders and government partners with valuable insights into trends and emerging issues in the system following the COVID-19 pandemic
- Publishing the AFSA Vulnerability Framework, a 3-year approach which aims to deliver flexible services that minimise stress for people experiencing vulnerability, while providing extra support to those who need it.
During the financial year, there were a total of 9,930 personal insolvencies. Of these 5,844 were bankruptcies, 3,942 were debt agreements, 12 were personal insolvency agreements and 23 were deceased estates.
Use of the Personal Properties Securities Register (PPSR) continued to grow during the 2022-23 financial year, with more than 11.8 million searches.
AFSA's corporate information, including our Corporate Plan, Regulatory Action Plan and Statement, and past Annual Reports, is available on the AFSA website.
