National Anti-Scam Centre

Last updated

National Anti-Scam Centre
Agency overview
Formed2023 (2023)
Jurisdiction Australia
Minister responsible
Agency executive
  • Catriona Lowe, Chair
Parent agency Australian Competition and Consumer Commission
Website nasc.gov.au

The National Anti-Scam Centre (NASC) is a consumer protection subagency of the Government of Australia, located within the Australian Competition and Consumer Commission. Established in 2023, the mandate of the NASC is to address scams and online fraud by collaborating with domestic and international government agencies, law enforcement and industry bodies.

Contents

History

In 2022, the Australian economy lost $3.1 billion in reported losses to scams, almost doubling by 80% from those recorded in the previous year. [1] The creation of the NASC was a commitment of the Labor Shadow Minister for Financial Services Stephen Jones prior to the 2022 Australian federal election, [2] [3] with a stated aim of bringing together banks, law enforcement, telecommunications, regulators and technology companies to share information to disrupt scam activity. [4] [5] The NASC was established in July 2023, following a $58 million investment by the Albanese government. [6] [7]

Functions

The NASC runs annual taskforces named "fusion cells" to develop solutions to specific scam trends with government agencies and industry partners. The first fusion cell, targeting investment scams, received involvement from the ACCC, ASIC and banks, telecoms and digital platforms. [8] [9] In June 2024, the NASC entered an industry intelligence sharing partnership with the Australian Financial Crimes Exchange, allowing the Centre to receive scam information reported to participating banks and vice-versa. [10] [11]

References

  1. ↑ Australian Competition and Consumer Commission (April 2023). Targeting Scams: Report of the ACCC on scams activity 2022 (PDF) (Report). pp. iii. Retrieved 21 January 2025.
  2. ↑ Sadler, Denham (8 November 2021). "Labor pledges anti-scams centre and further social media crackdown". InnovationAus. Retrieved 8 January 2025.
  3. ↑ Evans, Jake (7 November 2021). "Labor proposes anti-scam centre, calls for crackdown on social media companies profiting from fraud". ABC News. Retrieved 8 January 2025.
  4. ↑ Jones, Stephen (10 March 2022). "ACCC Investigation Vindicates Labor's Scambuster Policy". Stephen Jones MP. Retrieved 8 January 2025.
  5. ↑ Massola, James (6 November 2021). "Labor would introduce 'scambuster' minister to crack down on shonks, online fraud". The Sydney Morning Herald. Retrieved 8 January 2025.
  6. ↑ Florance, Loretta; Atkin, Michael (15 May 2023). "National anti-scams centre set to open in July, as Australians lose billions to fraudsters". ABC News. Retrieved 8 January 2025.
  7. ↑ "How a multi-million dollar 'anti-scam centre' will help protect Australians from fraud". SBS News. 15 May 2023. Retrieved 8 January 2025.
  8. ↑ Weber, Kate (3 July 2023). "ACCC, ASIC 'fusion cell' to tackle investment scams". iTnews. Retrieved 8 January 2025.
  9. ↑ "Federal government launches new investment scam taskforce with help from ASIC, ACCC". ABC News. 3 July 2023. Retrieved 8 January 2025.
  10. ↑ Crozier, Ry (17 June 2024). "National Anti Scam Centre joins industry intel loop". iTnews. Retrieved 8 January 2025.
  11. ↑ Hollingworth, David (13 June 2024). "National Anti-Scam Centre joins forces with Australian Financial Crimes Exchange". Cyber Daily. Retrieved 8 January 2025.
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