In recent years, Australia has been a leader in introducing new industry-wide regulations to protect consumers against scams and introducing more stringent cybersecurity regulation of the telecom sector more broadly. It therefore comes as an unwelcome surprise to read in a respected media outlet what appear to be potentially significant flaws in the country’s new Scam Prevention Framework (SPF) which is due to come into effect in March next year.
The flaws are highlighted in this BankInfoSecurity article, by Suparna Goswam, Executive Editor, APAC, for Information Security Media Group (ISMG). A little over six months out from the new framework being due to come into effect, Goswam argues that there is a marked disparity in the way that the SPF will hold banks and telcos accountable – including with substantial financial penalties – and other key parts of the scam chain that are set to escape the same kind of accountability. The article is though-provoking and well worth a read. You can view it right here.
