The new National Anti-Scam Centre is now open. 

Treasurer and Minister for Financial Services, Stephen Jones, officially launched the centre in Melbourne this week, saying it will play a crucial role in raising consumer awareness, disrupting scammers, and providing support to victims.

Under the supervision of the Australian Competition and Consumer Commission (ACCC), the National Anti-Scam Centre will feature a regulator steering group comprising representatives from various organisations including the Australian Taxation Office (ATO), Home Affairs, the Australian Communications and Media Authority (ACMA), and the Australian Securities and Investments Commission (ASIC). 

The centre will be staffed by experts from the government, private sector, and law enforcement.

The first taskforce, known as a “fusion cell”, will commence operations immediately, with a particular focus on investment scams. 

These scams account for over 50 per cent of all scam losses in Australia, amounting to more than $1 billion annually. 

“There is a scamdemic. No one is safe,” the minister said this week. 

The initial fusion cell will operate for six months, concentrating on investment scams before presenting a set of findings. 

The overall setup and operation of the National Anti-Scam Centre are projected to take three years.

In 2022, Australians suffered losses exceeding $3.1 billion due to scams; a 50 per cent increase from the previous year. 

Investment scams were the most frequently reported type, resulting in approximately $1.5 billion in losses.

To enhance the fight against scams, the ACCC plans to establish a data-sharing system between the public and private sectors starting from 1 July.

The new investment scam fusion cell aims to swiftly remove investment scam websites from the internet, educate consumers on avoiding scams, and share real-time information about active scams. 

The Australian Banking Association (ABA) has also been urged to enhance customer protection against scams.

Financial Services Minister Stephen Jones stressed the importance of implementing new codes of practice for the private sector to raise the bar on scam prevention. 

However, the Australian Banking Association expressed concerns that mandatory reimbursements for people who are scammed could attract more scammers.

The National Anti-Scam Centre's fusion cell approach, combining government, industry, and law enforcement expertise, has been described as a critical step.

Advocates say the focus on collaborative efforts reflects the necessity of comprehensive strategies to address the challenges posed by scammers.

The investment scam fusion cell's objectives include early intervention, website removal, information sharing, public awareness, and intelligence referral to law enforcement agencies. 

The National Anti-Scam Centre will monitor and publicly report the outcomes achieved during the six-month period.

More details are accessible here.