Banks and government say mandatory reimbursements will only attract scammers. But critics argue that system works well in the UK
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When the assistant treasurer started his National Press Club address on government reforms to stop financial scams, he made a point of acknowledging the heads of the banking lobby and the chief executive of Westpac.
To scam victims who hold the banks responsible for their personal losses, the Stephen Jones “shout out” on Wednesday was another sign of the perceived influence of the financial sector to avoid being forced to pay compensation.
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