Australia to bring anti-scam law targeting internet giants this year, regulator says

Australia plans to introduce a law by the end of the year forcing internet companies to proactively stop hosting scams or face hefty fines, the top consumer regulator said on Friday, potentially setting up another showdown with Big Tech.

The Australian Competition and Consumer Commission (ACCC) and the treasury department are consulting internet, banking and telecommunications firms about creating a mandatory, enforceable anti-scam code which legally requires them take reasonable steps to protect users, including offering an effective complaint service.