CHOICE welcomes the Government's announcement today on the launch of a consultation on the proposed scams code framework, which will set clear rules backed by penalties for businesses that play a role in enabling scams.
Quotes attributable to CHOICE Director of Campaigns and Communications, Rosie Thomas:
"Today's announcement puts companies like Meta and Google on notice. These digital platforms simply aren't doing enough to protect consumers from scams, putting people at unnecessary risk of harm. Without strong rules that require digital platforms to detect and prevent scams, and support people who've been harmed, scams will only continue to run rampant online."
"As it stands, digital platforms are likely making significant revenue from scammers paying to run targeted ads, while people are losing huge amounts of money to these scams. According to the ACCC, losses reported to Scamwatch from scams on social media have increased to $66.5 million in 2023, an increase of 41.6% on the same time period in 2022. A recent CHOICE investigation also revealed a slew of likely scam ads impersonating popular Australian retailers across Google, Facebook and Instagram, further reinforcing the need for strong new regulations backed by hefty penalties."
"We also welcome the economy wide approach, with initial focus on banks, digital platforms and telcos. The proposals for there to be hefty penalties and access to redress and reimbursement for consumers is also significant. We look forward to engaging with the Government's consultation to ensure that consumers can fairly and quickly get their money back when businesses fail to prevent, detect or disrupt scams."
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