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Australia, in world-first, introduces laws forcing banks and businesses to identify scammers that pay for scam/false ads, or be fined up to $50 million.
Australia has adopted world-first legislation to protect residents from scams and the cybercriminals behind them.
ABA chief executive Anna Bligh said Australia was leading the way in its comprehensive approach to scam prevention and this was a significant moment in continued attempts to harden the country against scammers. Assistant Treasurer Stephen Jones said the legislation would give Australia the strongest defences against scammers and put us ahead of the world in scam prevention and protection. ACCC deputy chair Catriona Lowe welcomed the world-first legislation, as it would enhance protections across the economy by setting out consistent and enforceable obligations for businesses in key sectors where scammers operate.
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