An upcoming ‘scams code framework’ proposed by Australia’s Department of the Treasury aims to combat scams by implementing sector-specific codes and standards. The framework, outlined in a consultation paper, assigns mandatory industry codes to different types of scams. The goal is to delegate clear roles and responsibilities to both government and private entities in the fight against scams. The proposed framework focuses on three main categories: banks, telecommunications providers, and digital communications platforms. Additionally, there is a category for ‘future sectors’ that includes cryptocurrencies, nonfungible tokens (NFTs), and related trading platforms. The Treasury emphasizes the need for measures to prevent, detect, disrupt, and respond to scams, as Australian consumers and businesses lost at least $3.1 billion to scams in 2022. The new industry codes will outline the responsibilities of the private sector in addressing scam activity. The Treasury is accepting comments on the consultation paper until January 29, 2024.