Scams Prevention Framework: Exposure draft legislation

In October 2024, we responded to Treasury’s consultation on the exposure draft legislation for establishing a national Scams Prevention Framework (SPF).

In line with our submission to the initial consultation on this issue in January, we supported the introduction of a whole-of-ecosystem regulatory framework that will ensure all key sectors in the scams lifecycle take appropriate steps to prevent, detect, disrupt and respond to scams.

However, while supporting the policy intentions underlying the proposed framework, our submission highlighted Members’ concerns that some elements of the draft legislation could have significant negative implications for competition, efficiency, innovation, and trust in the payments ecosystem. To enhance the effectiveness and minimise the potential unintended consequences of the SPF, we made several recommendations for refining the enabling legislation.

AusPayNet’s submission is available below.