While the ePayments Code sets out the responsibility of a receiving bank of a mistaken internet payment, it does not apply to scams.

The Assistant Treasurer and Minister for Financial Services announced before the election was called that he had approved a change to the conditions of AFCA’s authorisation as ombudsman service for the financial sector that would enable it to investigate and consider the actions of receiving banks in scam complaints.

Currently, scam victims can only raise a dispute with the Australian Financial Complaints Authority (AFCA) against the bank which sent the consumer’s funds (the sending bank). AFCA can only consider the actions of the bank that has the direct customer relationship with the person or entity who has lodged a complaint.

The change is expected to commence in 2026.

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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.