Consumer groups and community legal centres are pushing for liability for reimbursement to be included in the scam regulatory framework currently being developed by the government.
Gina Cass-Gottlieb’s ACCC deposit inquiry calls for Australia to introduce an account switching service like the ones that operate in Britain and the Netherlands.
Commonwealth Bank has handed itself an early Christmas present that could potentially shield it against expensive compensation claims from business customers who suffer financial losses during banking outages.
Dealing with complaints over scams is a growing area of activity for the Australian Financial Complaints Authority, occasionally putting the ombudsman at loggerheads with financial institutions.