Scams Archives - Page 5 of 14 - Consumers' Federation of Australia

22 December , 2023

Consumers Warned to Stay Alert to Scams over the Holiday and Sale Season

“Our advice to consumers is to never click on links in text messages or emails, even if you’re expecting a delivery. Instead, consumers should independently check the status of their delivery by going to the Australia Post app or website or the courier service they’re expecting the delivery from.”

19 December , 2023

Consumer Thoughts: 2023 Australian Consumer Survey Released

The 2023 Australian Consumer Survey has just been released and the figures are interesting, with a little over half of all purchases in Australia are now made online compared to 23% in 2016. The concerns of consumers also reflects this online trend as consumers making online international purchases are often unsure about the application of Australian Consumer Law (ACL), and as more and more people are targeted by, and are concerned about, scams.

13 December , 2023

2023 Rank the Banks (and Other Lenders) Released

Financial Counselling Australia, in conjunction with the state and territory financial counselling associations, released its bi-annual Rank the Banks (and Other Lenders) survey which found the big four banks performing well, but all other lenders failing their customers in financial hardship.

The survey collates the views of financial counsellors on how the banking industry and other lenders respond to customers in financial hardship. Undertaken in late September and October 2023, 431 financial counsellors responded from every Australian state and territory for a response rate of 42 per cent.

12 December , 2023

CFA Supports Global Anti-Scam Statement and Coalition

As part of the 2023 Global Congress, Consumers International and members have launched a Global Statement to Stop Online Scams. As a member of Consumers International and as a consumer advocacy organisation, the Consumers’ Federation of Australia strongly supports this call to stop online scams. As Australia’s representative to Consumers International, CHOICE is a signature…

12 December , 2023

Global Consumer Alliance Urges Governments to Require Tech Companies to Protect People from Scams

9 out of 10 Australians also support strong penalties for digital platforms who fail to detect and prevent scams.

“Tech giants such as Facebook, Instagram and Google are failing to prevent scammers from using their platforms to target victims, causing enormous amounts of harm to consumers globally. In Australia, losses reported to Scamwatch from scams on social media have increased to over $66 million in 2023, an increase of more than 40% on the same time period in 2022,” says CHOICE Senior Campaigns and Policy Adviser, Alex Soderlund.

12 December , 2023

ABA Updates and Broadens Accessibility Framework

Every Australian deserves equitable access to banking services. That’s why the Australian Banking Association (ABA) has broadened the scope of its accessibility framework to ensure the banking sector remains inclusive in a fast-changing digital landscape.
An important addition to the Accessibility and Inclusion Principles for Banking Services is a section on embedding accessibility into digital authentication processes, as the banking industry steps up its fight against scams, fraud and identiy theft.

8 December , 2023

C is for Collaboration – Day 2 of Consumers International Global Congress

Today the Congress was abuzz with passionate consumer advocates, experts and regulators taking a deep dive into everything from scams and AI to greenwashing and digital wallets. But at the heart of so many discussions today was the value of and the critical need to collaborate. It was recognised that collaboration both within and across borders is needed to help raise the voices on key issues impacting consumers and to learn from one another. Below are some of the highlights from Day 2!

7 December , 2023

Fair, Safe and Sustainable – Day 1 of Consumers International Global Congress

The Consumers International Congress 2023, held in beautiful Nairobi, Kenya, kicked off its first day with a stellar consumer protection agenda. Officially opened by the Deputy President of Kenya, His Excellency Rigathi Gachagua, E.G.H, the theme of building a resilient future for consumers was well and truly alive through the panel discussions and the conversations throughout the day. Below are some of the highlights from an action-packed Day 1!

6 December , 2023

Have Your Say on the Scams Mandatory Industry Code Survey

New mandatory industry codes are being developed by the Australian Government to outline the responsibilities of the private sector in relation to scam activity, with a focus on banks, digital communications platforms, and telecommunications providers. A short survey is also available for members of the public who wish to participate in the consultation process and provide information about their experience with scams, rather than provide a written submission.

You can read the Consultation Paper and how to make submissions here. Submissions are due by 29 January 2024.

1 December , 2023

Mandatory Code for Scams Promising But More Regulation Needed

The mandatory Code for Scams consultation paper announced by the Federal Treasury today sets out some proposals to tackle the scams crisis, however the final regulation must land on clearer stipulated standards and consumers’ rights to reimbursement of scams losses from banks if standards are not met.

“Mandatory and enforceable codes are a step forward, but consumers must be able to seek reimbursement easily, and there needs to be clarity on the high standard expected of banks and their liability,”

29 November , 2023

A Promising Start as National Anti-Scam Centre Releases its First Report

The NASC launched in July as part of an $86.5 million package to crackdown on scams. It represents the most cohesive partnership between government and industry to date to protect against these criminals.

While scam losses are still significant, the report shows a 16% decrease in losses compared to the same quarter last year. It also reveals that losses from investment scams have declined by 6%, and romance scam losses have declined by 28%.

The quarter ended with reported scam losses of $29.8 million in September 2023, the lowest losses reported in a single month since October 2021.

29 November , 2023

Scams Awareness Week 2023

In the past year, according to figures released by the National Anti Scam Centre (NASC), over 81,000 reports of scams have been made and $92 million stolen. Of those scams, 3 in 4 were impersonation scams where criminals pretended to be someone known and trusted such as a family member, government institution, road toll company or bank. Out of these, bank imitation scams caused the highest monetary losses.