Australian govt says will fine companies that fail to protect citizens from scams
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The Australian government plans to impose fines up to 50 million Australian dollars (US$33.6 million) on companies that do not protect customers from scams; Assistant Treasurer Stephen Jones announced the new laws on September 13, 2024; the laws will apply to banks, telecommunications companies, and technology firms; Australians reported losing 2.74 billion Australian dollars (US$1.84 billion) to scams in 2023; scam victims can seek compensation through the Australian Financial Complaints Authority; banks must report scams immediately and attempt to halt payments.
#Australia #Scams #Government #Fines #ConsumerProtection #StephenJones #FinancialComplaints #Telecommunications #Banks #Technology
https://www.nst.com.my/business/economy/2024/09/1105295/australian-govt-says-will-fine-companies-fail-protect-citizens
New Straits Times /
npub1da…x087j
2024-09-13 08:53:41
Author Public Key
npub1da9xhqetht0hvcwa6g5ftpl58zs3zymrtf6t69rfw66hr2uk6gnq9x087jPublished at
2024-09-13 08:53:41Event JSON
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"content": "Australian govt says will fine companies that fail to protect citizens from scams\n==========\n\nThe Australian government plans to impose fines up to 50 million Australian dollars (US$33.6 million) on companies that do not protect customers from scams; Assistant Treasurer Stephen Jones announced the new laws on September 13, 2024; the laws will apply to banks, telecommunications companies, and technology firms; Australians reported losing 2.74 billion Australian dollars (US$1.84 billion) to scams in 2023; scam victims can seek compensation through the Australian Financial Complaints Authority; banks must report scams immediately and attempt to halt payments.\n\n#Australia #Scams #Government #Fines #ConsumerProtection #StephenJones #FinancialComplaints #Telecommunications #Banks #Technology\n\nhttps://www.nst.com.my/business/economy/2024/09/1105295/australian-govt-says-will-fine-companies-fail-protect-citizens",
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