Scam victims could be automatically reimbursed up to $3000 under new plan
Some scam victims could automatically be reimbursed for their losses under a new federal government proposal.
Labor is pushing for banks, telecommunications companies and big digital platforms to automatically repay victims with verified losses of up to $3000 under its proposed Scams Prevention Framework.
Scams cost Australians more than $2 billion last year, which was an increase of 7.8 per cent from the year before.
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Some scam victims could be reimbursed up to $3000 under new plan. Getty
The median loss for scam victims was $400 in 2025, which was down from $500 the year before.
Assistant Treasurer and Financial Services Minister Daniel Mulino said Australians have lost billions of dollars to scams.
"Industry should pay out automatically so that we don't have the dispute resolution process flooded with very low value cases," he said.
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Advocates believe protections for consumers are still inadequate.
"I really welcome this announcement from the government that they are going to a reimbursement model," independent MP David Pocock said.
"This is something that myself and consumer advocates have pushed for from the start.
"$3000 is too low though, I think we need to be looking at for at least $10,000, noting that in the UK there's a $160,000 reimbursement model."
The Australian Communications and Media Authority (ACMA) enforces rules for telecommunications companies to identify, track and block scam calls and SMS.
Communications Minister Annika Wells said about 109.9 million scam calls and 41.1 million scam SMS were blocked by telcos between October and December 2025 alone.
"Through ACMA, the SMS Sender ID Register, which commences on 1 July, will make it harder for scammers to impersonate branded SMS or MMS," Wells said.
Consultation will run for four weeks with the government hoping a scheme will be in place by March next year.
The draft code is available for the public to view on the Treasury website.
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