
ASIC report reveals big four bank failing to prevent and respond to scams
In May 2022, ASIC commenced a review of scam prevention and detection responses of Australia’s big four banks. ASIC found that very few scams are detected by banks, and only a tiny percentage of customers are reimbursed for their losses. We review the primary findings of the investigation and explore your options if you’ve been the victim of a scam.
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