If big banks forge documents or charge for a service they don’t deliver, Australians wait an average of five years before getting a refund.

New reforms announced last week will see banks who break the law facing fines as high as $210 million and equip the corporate regulator with stronger enforcement powers.

https://www.choice.com.au/money/banking/everyday-banking/articles/banks-5-years-refund-fraud-victims-230418