Meaning of actionable scam intelligence
58AI Meaning of actionable scam intelligence
A regulated entity identifies or has actionable scam intelligence if (and when) there are reasonable grounds for the entity to suspect that a communication, transaction or other activity relating to, connected with, or using a regulated service of the entity is a scam.
Whether there are reasonable grounds for such a suspicion is an objective test. Relevant information for this test may include:
information about the mechanism or identifier being used to scam SPF consumers, such as URLs, email addresses, phone numbers, social media profiles, digital wallets and bank account information of the scam promotors; and
information about the suspected scammer; and
information (including complaints) provided by SPF consumers.
Gathering and reporting this information will minimise the harm from scams (see SPF principles 4 and 5 in Subdivisions E and F of Division 2).
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