ASIC Sues HSBC Australia
This is a news story, published by Yahoo Finance, that relates primarily to The Australian Securities and Investments Commission news.
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•Australia takes HSBC to court over neglecting scam victims
81% Informative
The Australian Securities and Investments Commission ( ASIC ) is alleging HSBC took 145 days to look into matters related to unauthorised payments and transactions.
Almost A$16 million of these losses occurred between October 2023 and March 2024 .
The legal action comes at a time when Australian authorities, as well as banks have been doubling down on reducing the number of scams occurring in the country's banking industry.
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