Minister indicates Australia could follow UK and force banks to reimburse scam victims
Minister indicates Australia could follow UK and force banks to reimburse scam victims
The United Kingdom will force banks to compensate scam victims under a world-first scheme, and Australia's financial services minister now says he's considering similar rules here.
That would be fantastic, let them put some of their record profits towards scam prevention. I bet they’ll lean on the telcos to come up with a way to stop number spoofing being so easy.
Good. Fucking banks make enough off the Australian public. Their willful ignorance when people are taken for a ride isn't acceptable.
It would be nice to have proper MFA support from the big 4 instead of just sms tokens. Would make it a harder to just get into accounts with compromised password
Did anyone else get updated T+C from their bank specifically to say they dont need to cover reimbursement for scams/hacking.
And there are fears scams could increase as customers take less care and make the UK a greater target for criminals.
Then maybe the banks can step up then?
But there are plenty of scam prevention measures banks could implement. All of them make payments more of a pain in the ass and there are way too many people who would trade safety for convenience. That said I like this measure. If scam education isn't working well enough then it's time to treat people with kid gloves.