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Scams

Scams Prevention Framework

The Scams Prevention Framework (SPF) imposes enforceable obligations to combat scams. Regulated entities must ensure they are ready to comply with obligations from commencement.

Key points:

  • The SPF requires banks, telecommunications providers and digital platforms providing regulated services to take action to prevent, detect, disrupt, report, and respond to scams.
  • Entities subject to the SPF must be members of AFCA by 1 September 2026.
  • Most SPF obligations will commence on 31 March 2027.

Understanding the SPF

The Scams Prevention Framework (SPF) requires businesses in the banking, telecommunications and digital platform sectors (initially) that provide regulated services to prevent, detect, disrupt, respond to and report scams and implement governance arrangements for combatting scams.

The SPF is supported by a multi-regulator model, with:

  • the Australian Competition and Consumer Commission (ACCC) as the general regulator and sector regulator for digital platforms
  • the Australian Communications and Media Authority (ACMA) as sector regulator for telecommunications providers, and
  • ASIC as sector regulator for the banks.

The Australian Financial Complaints Authority (AFCA), a free and independent dispute resolution service, will be the single external dispute resolution (EDR) scheme for SPF complaints against banks, telcos and digital platforms.

SPF commencement

Entities in the banking, telecommunications and digital platforms sectors who provide services designated under the SPF are required to be members of AFCA by 1 September 2026.

For more information, see the AFCA membership webpage: Scams Prevention Framework External Dispute Resolution: applications open for membership 1 July 2026.

Most SPF obligations will commence on 31 March 2027. Additional obligations are expected to commence by the end of 2027.

Next steps

The SPF codes and rules are being developed by Government. Treasury recently consulted on a draft banking sector code and the first set of SPF rules. For more information, see the Treasury website.

More information

For more information on the SPF, visit:

More information on ASIC’s scams work can be found at Scams.

Find more useful resources on Moneysmart to stay alert to scams: