AFCA authorised as the SPF external dispute body

What changes

AFCA was authorised to handle SPF external disputes across all three designated sectors.

What this means for your business

Fraud and disputes: scam complaints will be judged against SPF code obligations. Customer-facing, fraud and complaints teams need consistent records of every warning, hold and verification decision, and leadership should expect customer-loss and dispute exposure to be scrutinised.

Who it applies to

Banks, Telcos, Digital platforms

Official source

https://www.asic.gov.au/regulatory-resources/scams/scams-prevention-framework