Scam Prevention Framework is a move in the right direction

Scam Prevention Framework is a move in the right direction

The Federal Government today released a new Scams Prevention Framework for public consultation. An RMIT expert is available to comment.

Professor Asha Rao, cyber security expert

“In 2022, Australians lost over $3B to scams. In 2023, as per the ACCC, Australians reported over 600,000 scams – an increase of 18.5% to the year before, leading to losses of over $2.74 billion.

“Scammers are getting increasingly sophisticated, tailoring scams to demographics and rendering all of us unsafe in our own ways.

“While there are many ways in which Australians are getting better at spotting scams and becoming better at not clicking on links, there are still many of us getting caught in the scammer’s net, as the data shows.

“When credit cards are used for fraud, banks are good at alerting us and are often able to stop the fraud very quickly.

“Unfortunately, this is not the case with bank transfers, which is where most fraud is happening.

“If we could be alerted that the account we are about to transfer money into is not what it purports to be, that would go a long way in reducing the losses.

“In this regards, the proposed legislation on a framework to prevent scams is a welcome one.

“The government is planning to introduce mandatory codes that would requires banks, telcos and tech giants to work together to reduce the advertising, carriage and consummation of scams.

“While Australia is a small market, a giant step such as this may bring us closer to bigger players into the market, such as Europe.

“This legislation is definitely a step in the right direction to make Australia a real player with regards to regulations to keep us safer.”

Professor Asha Rao is a cyber security expert and a trans-disciplinary researcher working across mathematics, cyber security and gender equity in STEM.

***

General media enquiries: RMIT External Affairs and Media, 0439 704 077 or news@rmit.edu.au  

13 September 2024

Share

Return to RMIT News
13 September 2024

Share

Engage

Related News

Three competition winners with gold, silver and bronze medals, standing next to three smartly dressed women.

RMIT students shine at WorldSkills Australia National Championship

RMIT’s vocational education students have impressed at one of Australia’s premier career and skills events, the WorldSkills Australia 2025 National Championships, held over three days in Brisbane.

cultural-e-visit-thumbnail.jpg

New research brings cultural and climatic perspectives into Plus Energy Building design

RMIT researchers have investigated everyday household practices to inform PEB design and enhance the use of energy-saving technologies in the home.

The newest cohort of BITS-RMIT Higher Education Academy students on an immersion tour in Melbourne.

Academy students taste a little BITS of Melbourne

RMIT recently bid a temporary farewell to the newest cohort of BITS-RMIT Higher Education Academy students, who visited Melbourne for a whirlwind nine-day immersion tour.

news-advanced-robotics-1220px.jpg

Tiny device promises new tech with a human touch

Engineers at RMIT University have invented a small ‘neuromorphic’ device that detects hand movement, stores memories and processes information like a human brain, without the need for an external computer.

Show more
aboriginal flag float-start torres strait flag float-start

Acknowledgement of Country

RMIT University acknowledges the people of the Woi wurrung and Boon wurrung language groups of the eastern Kulin Nation on whose unceded lands we conduct the business of the University. RMIT University respectfully acknowledges their Ancestors and Elders, past and present. RMIT also acknowledges the Traditional Custodians and their Ancestors of the lands and waters across Australia where we conduct our business - Artwork 'Sentient' by Hollie Johnson, Gunaikurnai and Monero Ngarigo.

More information