‘People are losing a fortune’: ACCC urges banks to act as scam losses surge - Sydney Morning Herald

The consumer watchdog has called on the major banks to adopt a key measure to prevent scammers from cheating money out of unsuspecting victims.

In 2017, banks in the Netherlands introduced a name check service which reduced reported fraud by 81 per cent. However, Australias big four banks have not committed to introducing the measure, and h… [+3011 chars]

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