Scam prevention framework

Introduced by the Australian government in September, the Scam Prevention Framework (SPF) is the latest policy aimed at protecting scam victims. The framework places significant responsibility on the technology, banking, and telecommunications sectors to develop effective solutions. Non-compliance could result in hefty penalties, including fines of up to AU$50 million. Additionally, companies that fail to comply may be required to compensate scam victims. The codes will be mandatory and are expected to be introduced in…