Could a recent ruling change the game for scam victims? Here’s why the banks will be watching closely
- Written by Jeannie Marie Paterson, Professor of Law, The University of Melbourne
Meteoritka/ShutterstockIn Australia, it’s scam victims who foot the bill for the overwhelming majority of the money lost to scams each year.
A 2023 review by the Australian Securities and Investments Commission (ASIC) found banks detected and stopped only a small proportion of scams. The total amount banks paid in compensation paled in...
