Joint submission by Financial Rights Legal Centre, CHOICE, Consumer Action Law Centre and Consumer Credit Legal Service WA which urges the Australian Securities and Investments Commission to take stronger steps to ensure effective consumer protection in relation to ePayments.
ePayments are a substantial part of the service that banks provide to consumers, but unlike other aspects of retail banking, it is largely a utility and monopoly where consumers have little choice or ability to influence the service.
We strongly object to the narrowing of the application of the ePayments Code in relation to scams. A voluntary code that does not meet best practice.
