Australia Passes ‘World First’ Anti-Scam Laws, Violators Face Big Fines

Social media companies and banks will need to adopt new measures to prevent scam activity on their networks.

A group of people use their smartphones at Dixon Park in Newcastle, Australia on Dec. 1, 2024. Roni Bintang/Getty Images

The Australian Parliament has passed its “world first” anti-scam laws.

The laws introduce fines of up to $50 million for businesses to have strong scams defences, while victims will have clearer pathways to compensation.