Industry Archives - Page 3 of 4 - Consumers' Federation of Australia

20 March , 2024

Industry Working Group Welcomed by Consumers as Deadline for the 3G Network Approaches

“Industry should be providing consumers with clear information about which devices will and won’t work with Triple Zero and can be relied on to access emergency services. The working group and the major telcos must clearly communicate to consumers how they can identify if their device will work after the 3G shutdown, or whether they need to upgrade their device.”

18 March , 2024

Consumer Representative Opportunity: Buy Now Pay Later Code Compliance Committee

About the Opportunity Established in 2021, the Buy Now Pay Later (BNPL) Code of Practice sets best practice standards for the sector and strengthens consumer protections. The BNPL providers accredited to this Code represent an estimated 95 percent of the BNPL market – Afterpay, Brighte, Humm Group, Klarna, Payright, Plenti and Zip Co. The Australian…

14 March , 2024

Industry Information Package Released in Preparation for the Financial Accountability Regime

Original media release by and for the Australian Securities and Investments Commission (14/03/2024). The Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) have published new information to help banks, insurers and superannuation trustees prepare for the commencement of the Financial Accountability Regime (FAR). The FAR, which takes effect for banks…

13 March , 2024

Digital Platforms Need to Take Responsibility, CHOICE Urges Government Action

Original media release by and from CHOICE (13/03/2024). Big tech responsible for big losses: 249% increase in social media scam losses since 2020 CHOICE calls for strong rules to force digital platforms to rein in scams Consumer group CHOICE is demanding urgent government action to force digital platforms to prevent scam losses, after the National…

26 February , 2024

Stopping SMS Scammers Posing as Legitimate Institutions

Funded in the 2023 Budget, the Government’s Registry works by creating a controlled list of numbers of registered brand names, and preventing text messages from being sent using registered brand names unless the originating number matches the approved phone number on the Registry.
Feedback from consumers, industry, charities and government services will inform Government decision-making about next steps, including funding models for the finalised scheme.

13 February , 2024

Advocates Call for New Super Anti-Scam Code

Recent super fund data breaches and increasingly sophisticated super scams demonstrate the urgent need for industry collaboration on a super anti-scam code. Super Consumers Australia today is urging the Federal Government to prioritise the safety of Australians’ 24 million retirement savings accounts by introducing a superannuation industry anti-scam code.

Since 2022, up to 178,000 superannuation members across three super funds have been placed at a heightened risk of phishing scams due to known super fund data breaches.

7 February , 2024

New Telco Industry Standard to Address “range of financial gaps”

These rules have been developed by the ACMA in response to a direction from the Minister for Communications, the Hon Michelle Rowland MP, to make an enforceable industry standard that will improve safeguards for telco customers experiencing financial difficulties.

The new Telecommunications (Financial Hardship) Industry Standard 2024 requires telcos to establish and promote clearly accessible written financial hardship policies. Telcos must do more to proactively identify customers experiencing financial hardship and prioritise keeping them connected to services.

5 February , 2024

Industry Liability the Clear Path to Scam Reform

A coalition of advocacy groups, including Consumer Action Law Centre, CHOICE and the Australian Communications Consumer Action Network, have come out forcefully stating that customer reimbursement, paid for by industry through a customer’s own bank, must be at the centre of the Federal Government’s proposed new scam laws. The advocates say the new laws must be urgently implemented by the end of this year to stop the billions of dollars that are being lost by Australians every year to scammers.

19 January , 2024

Government Considers “mandatory guardrails” for AI Development

The Australian Government is taking action to help ensure that AI is safe and responsible, releasing its interim response to the Safe and Responsible AI in Australia consultation today.

The consultation made clear that while AI has immense potential to improve wellbeing and grow our economy, Australians want stronger protections in place to help manage the risks.

The Government’s response is targeted towards the use of AI in high-risk settings, where harms could be difficult to reverse, while ensuring that the vast majority of low risk AI use continues to flourish largely unimpeded.

17 January , 2024

New Telco Code Proposal Fails to Deliver

The Communications Alliance, the peak industry body for the Australian communications sector, has released a proposed framework and review package for the Telecommunications Consumer Protections (TCP) Code.

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.

11 December , 2023

Government Responds to ACCC’s Digital Platform Recommendations

Following the Australian Competition and Consumer Commission’s (ACCC) September 2022 Digital Platform Services Inquiry report, and the Albanese Government’s commitment in November to mandatory industry codes regarding scams (consultation closes 29/01/2024) has now announced an in-principle agreement to desperately needed new consumer and competition laws regarding digital platforms. Currently, the government is requesting that industry…