Victims of scams could soon receive automatic compensation under new plans from the federal government. Assistant Treasurer Daniel Mulino announced that scam victims with verified losses below $3,000 will be automatically reimbursed to reduce the cost and stress of lengthy investigations.
Key Details of the Plan
Mr. Mulino stated, 'We are working with industry to make sure that the system is as robust as possible, so that we can prevent scams happening in the first place. Where very low-value scams occur, we don't want those cases to go through very lengthy and costly and stressful dispute resolution processes.' Major banks will be responsible for paying the reimbursements.
Frameworks for Sectors
The federal government will also release frameworks for the banking and communications sectors, along with digital platforms, outlining how they must respond to scams. Sectors will be required to take stronger action from March 31. Mr. Mulino did not confirm specific requirements but said he expected industries to do more work in preventing and detecting scams.
'We've been involved in in-depth consultations with all three sectors, and also consumer groups, to make this work,' he added.
Scam Statistics
According to the Australian Competition and Consumer Commission, Australians lost $2.18 billion to scams in 2025. The largest types by monetary value were investment and redirection scams. Between October and December 2025, nearly 110 million scam calls and 41 million scam texts were blocked.
Communications Minister Anika Wells said, 'Everyone, including the telecommunications industry, has a role to play to stop people being ripped off by dodgy scams. The Scams Prevention Framework is another way the Albanese government is cracking down on those who are being taken advantage of.'
