The Australian Financial Complaints Authority has closed its consultation on rule changes that will enable it to consider scam related complaints under the Scams Prevention Framework from 31 March 2027. Submissions came from banks, telecommunications providers, digital platforms, industry associations, consumers and consumer representatives, while more than 440 participants attended a consultation webinar and submitted over 130 questions. AFCA will refine the draft Rules and submit them to the Australian Securities and Investments Commission for approval by November 2026. Subject to approval, it plans to publish the final Rules, a feedback report and nonconfidential submissions in early 2027, with stakeholder input also informing operational guidance. The Rules will take effect on 31 March 2027 alongside the framework’s external dispute resolution scheme.
Australian Financial Complaints Authority closes consultation on scam complaint rules ahead of 31 March 2027 commencement
The Australian Financial Complaints Authority has closed consultation on rules enabling it to consider complaints under the Scams Prevention Framework. It will submit revised Rules for regulatory approval by November 2026, with final Rules due in early 2027 and taking effect on 31 March 2027.