HSBC pays $35 million penalty for failing to protect Australian customers

HSBC has agreed to pay a $35 million penalty after admitting to failing to protect Australian customers from scam phone calls. Over 1,000 customers were affected, leading to unauthorized transactions totaling $34.6 million. The settlement marks the first time a bank has been held accountable for such losses to customers due to scams.

Summary by OZbrief · SMH