Consumers will be able to seek reimbursement for scams under a new cross-industry code to enable the take down of fraudsters and verification of business accounts. ausbiz auspol
government endorsement of a suite of new consumer protection measures
“While these are all positive steps in the fight against scams, we also believe the work of the NASC would be greatly assisted by the establishment of effective cross-industry standards with coverage and teeth to ensure scammers can’t exploit weak links,” ACCC consumer deputy commissioner, Catriona Lowe said.
“The code is essentially about providing a very clear set of expectations within the industry, about their obligations and what consumers can expect from their banks, the telecommunications [companies] and social media platforms, setting out a clear set of expectations of what they required to do in respect of the information they hold and consumers they look after.”As scam enticements increasingly move away from telcos and onto social media.
Consumer groups welcomed the idea of a new code, but said consumers needed a clear way to be reimbursed and not have to chase telcos and social media platforms.
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