One Nation will introduce a bill for a scam victim protection law in the next Parliament after the 2025 Federal election requiring banks to quickly refund victims up to a value of
$165,000.

Party leader Senator Pauline Hanson, announcing the policy in the Senate today, said Australians were losing billions of dollars to increasingly sophisticated scams and needed better protection.

"Between 2022 and 2023, Australians lost a total of about $6 billion to scammers while the big banks delivered a combined profit of $30 billion," Sen1;3tor Hanson said.

"The banks have ample resources to improve the security of their customers' information and accounts, and monitoring for scam activity.

"One Nation will introduce legislation in the next Parliament that will: require banks to refund scam victims up to a value of $165,000 within five days except in cases of gross negligence by account holders; in the case of a scammer's bank account receiving stolen money, that bank must cover half the refund; and implement heavy penalties for banks that fail to act, incentivising them to invest more resources in fraud protection.

"Similar laws have recently been introduced in the United Kingdom, and One Nation considers there is an urgent need for them in Australia. On a per-capita basis, we are one of the most scammed nations in the world.

"This does not absolve Australians of their own personal responsibilities to be on guard against scams - it's in everyone's interests to be on guard - however it's virtually impossible to live and work without a bank account today and Australians must have confidence their money is being protected. All too often, Australian victims turning to their banks to resolve the fallout from scams are not being helped.

"Unlike the major parties, One Nation is not beholden to the big banks. We are answerable to the Australian people with whom we stand."

ENDS