Australia: Opened consultation on the Australian Treasury Scams Code Framework

On 30 November 2023, the Australian Treasury opened a public consultation for the prospective Scams Code Framework until 29 January 2024. This initiative entails the introduction of mandatory industry codes with a specific emphasis on banks, digital communications platforms, and telecommunications providers, aiming to address the issue of scam activities within these sectors effectively. The framework is designed to institute clear obligations for these key industries in their collective efforts to combat scams.