Australia should force banks to repay scam victims and adopt better protections, advocates say

Calls for federal government to mandate the checking of account details before money transfers are made

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The federal government should take action to force banks to reimburse scam victims and check the account details match up on transactions to stop scams before the money is lost, consumer rights advocates say.

The call comes as Australia’s big four banks pushed back on mandatory reimbursements, arguing they could “inadvertently lead to increases in scam activity” and that customers should keep themselves safe.

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