Scams

Written by Claude Haiku 4.5 from the extracted text on 28 Feb 2026. It can miss or misread redacted and scanned pages. Check the source before relying on it.

Treasury documents from August-September 2023 detail government consultation on anti-scams legislation. The materials include meeting notes and policy briefs showing Treasury's Market Conduct and Digital Division engaged regularly with banking sector representatives (COBA, ABA, and individual banks including NAB) to address scams identified as a top banking priority. The Assistant Treasurer's preferred regulatory model combined principles-based obligations in primary legislation under the Competition and Consumer Act—requiring businesses to develop strategies identifying, disrupting and responding to scams—with sector-specific codes tailored to different industry sizes and complexities. Treasury was conducting targeted consultation with agencies, regulators and industry bodies on the proposed approach's scope and content. The government committed to introducing mandatory codes for banks, digital platforms and telecommunications providers, with further consultation planned in subsequent weeks. No quantitative impacts, costs or alternative rejected options are disclosed in these excerpts.