New rules rolled out to help protect Australians from text message scams
The Australian Communications and Media Authority (ACMA) has rolled out new rules to protect Australians from text message fraud. Key points: Australians lose more than $2 billion to fraud in 2021 Telecom providers could face fines of up to $250,000 if they fail to comply The frequency of fraudulent SMS increased sharply after crackdown on scam callers Starting today, cellular providers will be required to identify, track, and block text message fraud, share information about fraudulent messages with other providers, and report fraud to authorities. According to the Australian Competition and Consumer Commission (ACCC), Australians lost more than $2 billion to fraud in the last year, with about $10 million lost via text messages. Data from Scamwatch shows more than 67,000 text message frauds were reported during 2021. Federal Communications Secretary Michelle Rowland said the new rules would disrupt the scammers’ business model. “Most Australians have received a fraudulent text message