Misleading conduct by the bank, including refusal to clarify suspicious charges can cause significant confusion and financial distress. When the bank claims they authorize and verify entries on bank statements, why would they refuse to identify the authorizing officer? Why would they fail to explain an entry labeled “loan enforcement expense?”

These actions could potentially involve both misleading conduct and concealment, depending on the specific facts and the context surrounding the bank’s actions. This isn’t legal advice. Do your own research.

Misleading Conduct By Bank Staff

Such bank actions might constitute misleading conduct if:

  • The bank’s claim all entries on their statements are authorised and verified, is false or incomplete,
  • By refusing to provide the name of the authorizing officer or failing to explain the entry, the information may not be correct.
  • And it raises suspicions about the accuracy of the bank’s records.

Concealment By Bank Staff

There could be an intentional failure to disclose relevant information that should be provided to you. You may have a legitimate right to know who authorized the entry, especially if it involves a financial transaction or loan enforcement cost.

The concealment of information could prevent you from understanding the nature of the transaction or the legitimacy of the expense on your statement. For instance, if the bank has an obligation to provide explanations for such charges (under consumer protection laws or contractual terms), their refusal to disclose could be considered an attempt to conceal information.

Which is it?

The key difference here is the effect on you, the customer:

  • Misleading conduct. Where the bank’s actions (or failure to act) create a false impression about the accuracy of bank statements.
  • Concealment, where the bank’s actively hiding or failing to disclose relevant information. E.g. the name of the authorising officer, or the nature of the expense. Information which you have a right to know, in order to properly understand your bank statement.

Misleading or deceptive conduct ACL s18
Australian Consumer Law (ACL), addresses misleading or deceptive conduct (Section 18) and concealment of material facts. These actions could be prohibited if they result in harm or deception.

So you may have grounds to pursue legal action to seek clarification. Even a refund, or damages if the conduct is deemed misleading or deceptive. Note, this isn’t legal or financial advice.