Banks and other businesses could face fines of up to $50 million if they’re found to have failed to protect customers from scams.
Now, compensation could be on the cards under proposed new laws shifting the onus back onto business.
According to the ACCC, more than 600,000 scam reports were filed in Australia last year with losses totalling $2.74 billion.
Read more: https://www.sbs.com.au/news/article/the-plan-to-make-australia-the-toughest-target-for-scammers/edcrvsffz
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