ASIC alleges HSBC Australia did not have "adequate controls in place to prevent and detect unauthorised payments", according to documents filed in the Federal Court today.
The Australian arm of one of the world's biggest banks is in the firing line for allegedly failing to protect customers from
ASIC alleges HSBC Australia did not have "adequate controls in place to prevent and detect unauthorised payments", according to documents filed in the Federal Court today. There were 950 reports of unauthorised transactions between January 2020 and August 2024, totalling around $23 million in customer losses.Many of these scams targeted customers via text message or email, Court said.
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