Victims don’t have the resources to deal with this rising global issue, but our banks certainly do
ajor new funding announced by assistant treasurer and minister for financial services, Stephen Jones, for a national anti-scams centre is welcome news, but without involvement and extra investment from our banks the chances of stopping this crisis are very small.
Community lawyers and financial counsellors are on the frontlines of the crisis and the stories they hear are sobering. We have clients whose accounts have been bled dry by scammers, driving some families into poverty. We speak to retirees who, through no fault of their own, have lost their life savings.
Banks must also change their attitudes and approach to customers who fall prey to sophisticated scams. Rather than lay blame, banks must fully reimburse customers who inadvertently transfer money to these criminals, especially when many fraudsters operate their “businesses” with the help of Australian bank accounts.
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