7 News
·australia
·1 hour ago
HSBC Bank Australia pays $35 million penalty for failing to protect customers
HSBC Bank Australia will pay a $35 million penalty after admitting it failed to protect customers from scams. Federal Court Justice Elizabeth Bennett found the bank took an average of 144 days to investigate scam reports, resulting in significant client losses. The penalty is called a strong wake-up call for the banking industry regarding scam controls.
Summary by OZbrief · 7 News
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