Consultation paper on Scams – Mandatory Industry Codes

In November 2023, the Treasury and Department of Infrastructure, Transport, Regional Development, Communications, and the Arts (DITRDCA) released a consultation paper on Scams - Mandatory Industry Codes, which sought input from industry and stakeholders on the proposed features of the Scams Code Framework.

The government has committed to introducing new mandatory industry codes to outline the responsibilities of the private sector in relation to scam activity.

BDO welcomes the proposed Framework, and BDO’s Forensic Services Partner, Conor McGarrity, prepared a submission in response detailing suggestions focussing on ensuring the proposed Framework is robust in its set-up and has the appropriate formal evaluation processes and ongoing feedback mechanisms to ensure it remains fit for purpose.

The submission also proposes an expanded definition of ‘scam’ to broaden the scope of harms that could be regulated under the Framework.