Telcos now face $250k fines for sms scams

The Australian Communications and Media Authority (ACMA) have registered strict new rules to protect Australians from text message scams.

From today, mobile providers could be fined up to $250,000 if they don’t identify, trace and block text message scams, share information about scam messages with other providers, and report scams to the authorities.

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$250,000 fines for breaches

The Australian Government has welcomed the rules, which will require all telecommunications providers to identify, trace and block SMS scams. They also require providers to publish information to assist their customers to proactively manage and report SMS scams, to share information about scam messages with other mobile providers and report identified scams to authorities.

The new rules have been developed by the telecommunications industry peak body, Communications Alliance, following a period of consultation with telecommunications providers.

It takes scammers an average of 7 days from the initial theft of personal and account information for criminals to commit multiple identity crimes with that information.

MFA now mandatory for high-risk transactions

These rules follow separate new anti-scam rules that came into force on 30 June 2022, requiring telecommunication providers to use multi-factor authentification before approving high-risk customer transactions, including SIM swap. Providers will face penalties of up to $250,000 for breaching ACMA directions to comply with the rules.

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