Meta urges sanctions instead of compensation under new scam rules
Meta's director of global threat disruption argues Australia's plans to force banks, telcos and social media companies to compensate scam victims are "fundamentally problematic".
Draft anti-scam rules that could see banks, telcos and social media companies forced to compensate scam victims risk desensitising consumers and may lead to an increase in scams in Australia, according to Meta’s director of global threat disruption.
In an interview with Capital Brief, Meta’s David Agranovich said that imposing US-style sanctions on scammers would more directly target the profitability of scams for bad actors.
In September, the US Department of State announced sanctions on Cambodian tycoon Ly Yong Phat, his conglomerate L.Y.P. Group Co., O-Smach Resort and three hotels owned or controlled by Ly for their role in human rights abuses linked to the treatment of workers and forced labour in online investment scam operations.
“To really counter scams effectively, we need to counter them at the source," Agranovich said.
