Scams code framework proposed by the Australian Treasury. Source:\u00a0treasury.gov.au<\/figcaption><\/figure>\nThe framework proposes three broad categories for assigning codes and standards, covering what they see as the areas most targeted by scammers: banks, telecommunications providers and digital communications platforms. It also mentions a \u201cfuture sectors\u201d category, which would tackle cryptocurrencies, nonfungible tokens (NFT) and related trading platforms and marketplaces.<\/p>\n
Related: <\/strong>Australian Treasury proposes to regulate crypto exchanges, not tokens<\/strong><\/p>\n
The Treasury highlighted that Australian consumers and businesses lost at least $3.1 billion to scams in 2022 \u2014 an 80% increase from 2021. While the Australian government recently introduced several initiatives to address scams, existing attempts have proved ineffective.<\/p>\n
The new mandatory industry codes will outline the responsibilities of the private sector concerning scam activity. Currently, the National Anti-Scam Centre (NASC), led by the ACCC, the Australian Securities and Investments Commission, the Australian Communications and Media Authority, and specialist support services are working together to combat scams in Australia.<\/p>\n
The Treasury will collect comments on the consultation until Jan. 29, 2024.<\/p>\n
Magazine: <\/strong>Outrage that ChatGPT won\u2019t say slurs, Q* \u2018breaks encryption\u2019, 99% fake web: AI Eye<\/strong><\/p>\n<\/div>\n
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
A consultation paper on a new framework for addressing consumer and business scams proposed by Australia\u2019s Department of the Treasury considers applying sector-specific codes and standards to banking and cryptocurrency scams, among others. 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