June 18 (Reuters) - An Australian court has ordered HSBC's local unit to pay A$35 million ($24.61 million) after the bank admitted to failures in protecting customers from scams, the country's ...

A global telco that failed to stop more than 1,000 scam text messages from reaching Australians has faced no consequences, the ABC can reveal.

HSBC customers who became victims of a long-running "spoofing" scam hope the bank will take full responsibility for its "system failures" in Federal Court this week.

ASIC extracted a sizeable penalty after the global bank admitted it failed to protect customers from systemic fraud but some ...

HSBC will pay a $35 million fine for failing to protect customers from scams with many cases involving fraudsters impersonating bank staffers.

The bank’s lack of action led to $34.6m of unauthorised transactions, according to the Australian Securities and Investments ...

The Australian Securities and Investments Commission (ASIC) said on Thursday that it is seeking a fine of A$35 million (US$24. 6 million) from UK major bank HSBC Holdings' Australian subsidiary after ...

HSBC Bank Australia has agreed to pay a $35 million penalty after admitting it did not protect customers from scams that cost some victims their life savings.

An Australian federal court ordered HSBC Bank (HSBC) Australia to pay a A$35M (US$24.5M) penalty after it admitted to failures in protecting customers from scams, the Australian Securities and ...

The issues center upon more than 1,000 reports on unauthorised transactions totaling around A$35 million between January 2020 and August 2024, which included impersonation scams, where criminals prete ...

Information Age understands the telco may face penalties up to $250,000 if it now violates ACMA’s warning. A victim who lost ...

The Australian arm of the international bank admitted it had failed to protect its customers from criminals who scammed them out of their life savings.