The banking industry has promised to crack down on scams.
The retail banks have announced plans for an anti-scam centre, an account name-checking service and some other initiatives, but can't provide any details of how long it'll take to implement them.
Earlier this week there were calls for the Ombudsman to investigate whether banks are failing to do everything they should to prevent scams.
Banking Association chief executive, Roger Beaumont spoke to Heather du Plessis-Allan about it.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!