HSBC pays $35 million penalty for failing to protect scam victims
HSBC agreed to pay a $35 million penalty after admitting to failures in protecting Australian customers from scam phone calls. Over 1000 victims were affected, with losses totaling $34.6 million. The Australian Securities and Investments Commission hailed the settlement as a first in holding a bank accountable for customer losses to scammers.
Summary by OZbrief Editorial · The Age · Source
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Published 18 Jun 2026, 07:55 UTC · Updated 18 Jun 2026, 08:00 UTC
Summary by OZbrief Editorial. Original report: The Age. Editorial policy · Corrections
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