Global telco escapes penalty for bank scam texts despite customers losing millions
A global telco avoided penalties despite facilitating over 1,000 scam texts targeting HSBC customers from 2020 to 2024, leading to losses exceeding $34 million. The Australian Communications and Media Authority issued a warning, but critics argue it lacks adequate enforcement power. HSBC recently agreed to a $35 million penalty after admitting failures in protecting customers.
Summary by OZbrief Editorial · ABC News – Australia · Source
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Published 18 Jun 2026, 18:37 UTC · Updated 18 Jun 2026, 18:50 UTC
Summary by OZbrief Editorial. Original report: ABC News – Australia. Editorial policy · Corrections
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