Assistant treasurer Stephen Jones to tell National Press Club that digital platforms must also be pushed to take more preventative action
Half of all scams in Australia still occur via phone or text message and most involve a bank transfer. The government says $2.7bn was lost to scammers last year.Half of all scams in Australia still occur via phone or text message and most involve a bank transfer. The government says $2.7bn was lost to scammers last year.
“We will address this to ensure victims can receive compensation in the right circumstances,” Jones will say. “Compensation for inaction, for negligence, for failing to meet an obligation is a critical part of our framework.” Jones will say the first phase of a suite of government anti-scam measures has helped reduce the losses by 13% last year from $3bn in 2022.During the pandemic, the cost of scams skyrocketed, with annual losses in Australia doubling in 2021 and again in 2022. Last year’s fall was the first since 2016.
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