The Federal Government has released a new Scams Prevention Framework for public consultation.

Mike speaks with Professor Asha Rao, a cybersecurity expert at RMIT, who highlights that Australians lost over $3B to scams in 2022, with over 600,000 scams reported in 2023, up 18.5% from the previous year.

Scammers are becoming more sophisticated, particularly targeting demographics.

While Australians are improving at spotting scams, fraud through bank transfers remains a significant issue.

Professor Rao supports the proposed legislation requiring banks, telcos, and tech giants to collaborate in reducing scams, viewing it as a crucial step toward stronger regulation and increased safety.