The issues center upon more than 1,000 reports on unauthorised transactions totaling around A$35 million between January 2020 and August 2024, which included impersonation scams, where criminals pretended to be HSBC staff
HSBC Australia has admitted to significant failures in preventing and detecting scams, leading to over 1,000 unauthorised transactions totaling A$35 million between January 2020 and August 2024. The bank will pay a A$25 million fine as a result of these shortcomings, which…
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