Compensate Victims of Fraud & Introduce Harsher Penalties for Fraudsters

Compensate Victims of Fraud & Introduce Harsher Penalties for Fraudsters

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Fraud is costing the Australian Economy $8.5 Billion Per Annum
Australian Consumers, Immigrants, Senior Citizens, Vulnerable communities are being Targeted by Sophisticated Fraudsters who claim to be a Tradesperson or Investor but are scamming others and not delivering the intended product or service the Customer has paid for.
Several Scammers are also using Illegal phoenix activity, Laundering Money to Complex Trust Accounts, Opening Business's to appear to be Legit etc
These Scammers are enjoying a lucrative lifestyle purchasing assets and expensive vehicles whilst the rest of us struggle to make ends meet for our family and experiencing financial loss and emotional pain.
We the public demand that the Australian Government, IBAC, AFP, ASIC, ATO, DHS, Building Tribunals, Consumer Affairs, Austrac, Fintel Alliance, Banking Sector join forces to close any loop holes that scammers are exploiting
We require the Government to Introduce an Alerting Service and Financial Compensation Platform that alerts other departments and banks when Fraud is committed against a citizen and compensates the Fraud Victims.
Fraudsters are breaching our Laws and Causing harm to the community
Anti-Money Laundering, Know Your Customer need to be upgraded in Real Time as opposed to Manual Verification
Credit Providers, Real Estate Agents, Financial Institution’s should ensure that Red Flags of a Scammers History is taken very seriously as part of KYC, AML i.e. Income Verification, Credit History, Consumer Affairs/Scam Watch, Criminal Records
Harsher Penalties should apply for these Scammers to prevent further scams occurring
Victims of Fraud should be compensated for Financial Loss
A Fraud-Scam Complaints Authority needs to be introduced to investigate Scam Cases and Compensates Victims of Fraud.

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