Meta, Google, X and other tech giants on Friday committed to a new industry code to tackle online scams, getting in front of the regulator’s push for a new anti-scam law.
But the voluntary effort “falls short” of what is needed and what the community expects, Assistant Treasurer Stephen Jones said.
He is pledging to set a higher bar for the companies later this year though a mandatory code backed by hefty fines to disrupt what has become a $2.7 billion problem.
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