Technology lobby group DIGI says there has been an “extraordinary” level of engagement between Stephen Jones and Australia’s banks on new anti-scam laws.
Assistant Treasurer Stephen Jones is under fire for his handling of the draft scam prevention legislation after the lobby group representing tech giants including Meta and Google said the federal government had “cosied up to the banks” on the proposed laws.
Assistant Treasurer and Minister for Financial Services Stephen Jones said DIGI was “not fair dinkum” about stopping scams.However, Jones has rejected the criticism. He said DIGI was “not fair dinkum” about stopping scams and was “running a campaign for social media platforms to avoid liability under the government’s new laws”.
Proposed changes to the Privacy Act place too much burden on individuals and don’t tell businesses gow to chare the burden, says Sunita Bose, managing director of Digi.Jones defended the consultation process and said about two-thirds of scams in Australia originated from social media platforms. A spokesman for the Australian Banking Association said banks had participated in consultations, as had telcos, social media platforms and consumer groups. “Banks support legislation that enshrines an entire ecosystem approach which is the only way to properly protect consumers and help drive down scam losses.”
However, the proposed anti-scam legislation has faced criticism from other quarters including the Consumer Action Law Centre, which says they put too much onus on consumers to fight for redress in lengthy dispute resolution processes that could take between 18 months and two years.
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