Australia is currently facing a crisis of investment scams, with citizens losing an alarming 3.2 billion dollars annually. This figure is 20x greater than that of New Zealand and almost twice as much as the United Kingdom, earning Australia the unfortunate title of 'the honeypot' for scammers due to its inadequate protection measures for victims and consumers. Scam victims see their lives destroyed. While the government has recognized this issue and established a National Anti Scam centre, it's clearly not enough. The scams are becoming harder and harder to spot for consumers. Only the banks have access to privileged closed information about flagged banks accounts, banking institutions. This information can be used to protect consumers. In New Zealand, Singapore and UK, the Government is devising compensation schemes with which banks compensate their customers when they have not been adequately protected. We need to hold our banks accountable. By signing this petition, you are calling on Australian banks to be accountable and provide better support and compensation measures for their customers. Let's ensure that Banks who are partly responsible for the staggering scam loss figures of Australians do not get away another time.