Original article by Karen Middleton
The Guardian Australia – Page: Online : 31-Jul-24

The federal government intends to pursue further reforms aimed at protecting consumers from scams. Assistant treasurer Stephen Jones will note in a National Press Club on Wednesday that the government’s crackdown helped to reduce losses from scams to $2.74bn in 2023, compared with $3bn in 2022. Jones will add that losses due to social media-based scams rose by 17 per cent in 2023, and he will argue that the ‘social licence’ of digital platforms requires them to do more to protect their users from fraudsters. Jones will also flag reforms that will require banks to compensate customers for losses incurred due to scams.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NATIONAL PRESS CLUB (AUSTRALIA)