Investigating actionable scam intelligence—civil penalty provision
(1) A regulated entity contravenes this subsection if the entity: (a) has actionable scam intelligence about an activity relating to, connected with, or using a regulated service of the entity; and (b) fails to take reasonable steps to investigate whether or not the activity is a scam during the 28‑day period starting on the day that the intelligence becomes actionable scam intelligence for the entity. (2) Subsection (1) is a civil penalty provision. Note: This means subsection (1) is a civil penalty provision of an SPF principle for the purposes of section 58FJ (about civil penalties).
Sourced from the Federal Register of Legislation at 22 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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