Scam Prevention Framework

Question

1. Has the Government required designated entities in the banking, telecoms and digital platform sectors to commit to participate in, or fund, a scam compensation or reimbursement arrangement before the sector codes and rules are finalised? If yes, where is that requirement set out and what is the deadline? 2. Will the Government defer any deadline for participation or funding commitments until after the sector codes and rules are finalised? If not, why not? 3. Has Treasury assessed the likely compliance cost of the proposed compensation or redress arrangements for smaller regulated entities, separately from major banks, large telecommunications providers and major digital platforms? If yes, provide that assessment. 4. If a regulated entity does not participate in any industry compensation or reimbursement arrangement, what access to internal dispute resolution, external dispute resolution and redress will its customers have under the Scams Prevention Framework? 5. Has Treasury modelled whether the proposed compensation or redress arrangements could affect competition or regional connectivity by increasing costs for smaller or regional telecommunications providers? If yes, provide that assessment.

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• SQ26-000318 Scam Prevention Framework.pdf (opens in a new tab)