The ABA welcomes further progress by the Federal Government to establish a mandatory SMS Sender ID register with an enforceable industry standard, in what will be a critical preventative measure in the fight against scammers.
ABA CEO Anna Bligh said thwarting SMS impersonation scams would disrupt a key tactic that scammers use to steal money from Australians.
“Text messages are one of the most common ways that Australians are exposed to scams. This register will make it harder for scammers to use telecommunication networks to reach people.” Ms Bligh said.
“Impersonating banks, government agencies and popular brands in text messages is a common method used by scammers to deceive customers.
“This register will be crucial to stopping SMS impersonation scams in their tracks before they can cause harm to Australians.
“By requiring telcos to block known scam SMS numbers, Australia will have a new weapon to disrupt a popular business model that scammers use.
“Ultimately, winning the war against scammers can only be achieved through a collective effort across the economy, including from government, banks, telcos and social media platforms.
“This register will be an important tool for telcos to help put scammers out of business and complements extra protections banks are putting in place through our industry’s Scam-Safe Accord.”
The banking industry’s Scam-Safe Accord includes:
- A $100 million investment by banks in a new confirmation of payee system, ensuring people can confirm they are transferring money to the person they intend to
- Introducing more warnings and payment delays to protect customers
- Adopting further technology and controls to help prevent identity fraud, such as the use of at least one biometric check for new individual customers opening accounts
- Investing in a major expansion of intelligence sharing across the sector
- All banks to implement anti-scams strategies.
