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While not all risk can be avoided, there are clear patterns in how reputational issues unfold, and common missteps that often land companies in the headlines.
For strategic communicators, investor relations teams, and financial PR leads, the ability to spot these early warning signs is critical. Recognising these “red flags” early can help protect brand equity, maintain stakeholder trust, and preserve long-term value.
This Q2 2025 edition of our Risk Radar highlights 5 key developments currently shaping the Australian financial services landscape. We encourage you to consider how these issues may impact your own organisation, whether as direct risks or as indicators of broader industry trends. By gaining visibility on these signals now, you can stay ahead of potential pitfalls and strengthen your communication strategy before problems escalate.
1. ASIC's finfluencer crackdown raises digital risk
In June 2025, ASIC issued warnings to 18 social media finance influencers for offering unlicensed financial advice. While aimed at individual creators, the message is loud and clear for institutions: ensure all digital content complies with financial regulations.
Take note: Review your brand’s influencer relationships, affiliate content, and executive LinkedIn posts. Are they all aligned with licensing rules and disclosure obligations?
2. Bupa hit with $35M fine for misleading claims handling
In a major ruling, Bupa admitted to wrongfully rejecting legitimate insurance claims and agreed to pay $35 million in penalties. The ACCC cited systemic communication failures with customers over five years.
Take note: This is a wake-up call for insurers, wealth platforms, and super funds: Your claims and customer service scripts are part of your brand, and may face legal scrutiny.
3. Qantas cybersecurity data breach
This week, Qantas confirmed a cyberattack that compromised the personal data of up to six million customers. The breach originated from a third-party customer service platform, exposing vulnerabilities in Qantas's vendor oversight and broader supply chain. While no financial data was accessed, the stolen information included personal details - enough to raise serious concerns around identity theft and consumer safety. Public calls for stronger government intervention have followed.
Take note: Cyber preparedness is not just an IT issue. Every organisation needs a public-facing communications plan for cyber incidents — one that is fast, transparent, and human.
4. Bank closures ignite public backlash in regional areas
Over 180 Queensland bank branches have closed since 2020, with many communities left without physical services. The media and Senate inquiry coverage has cast major banks as out of touch with local needs.
Take note: Don’t just announce changes. Explain the why, listen to stakeholders, and communicate the benefits of transformation, not just the logistics.
5. APRA sharpens focus on super fund cyber resilience
In Q2, APRA signalled a firmer stance on cyber resilience across the superannuation sector, issuing reminders that good intentions are no longer enough. Super funds must demonstrate operational maturity in how they manage third-party risk, authentication controls, and data security. This comes off the back of rising scrutiny across financial services, with APRA highlighting that boards and executives are ultimately accountable for cyber preparedness, not just IT teams.
Take note: Members expect transparency. Regulators expect clarity. Now is the time to ensure your crisis communications and incident response plans are integrated and not siloed. Disclosures, member updates, and public messaging must reflect the same level of rigour regulators expect behind the scenes.
In financial services, your reputation is your license to operate. While no organisation is immune to risk, the ability to anticipate, interpret, and respond to emerging signals is what separates reactive brands from resilient ones.
The themes emerging this quarter include: regulatory action, cybersecurity threats, public scrutiny, and media missteps. It highlights the need for strategic communication that is proactive, precise, and aligned with your broader business priorities.
As always, the earlier you spot the risk, the better you can manage the message. If you need support in doing so, we can assist.
