Australia's Labor government is considering a scam protection framework that would require banks, telcos, and digital platforms to automatically reimburse victims of scams up to $3,000, with dispute resolution processes handling larger claims. Financial Services Minister Daniel Mulino said the threshold aims to balance consumer protection against creating incentives for larger scams.
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Australia's Labor government is considering a scam protection framework that would require banks, telcos, and digital platforms to automatically reimburse victims of scams up to $3,000, with dispute resolution processes handling larger claims. Financial Services Minister Daniel Mulino said the threshold aims to balance consumer protection against creating incentives for larger scams.