Australian Banking Association Limited

On 12 July 2023, the ACCC received an application for authorisation lodged by the Australian Banking Association Ltd (ABA). Authorisation was sought to enable the ABA and its Member Banks to participate in discussions for the purpose of developing potential industry initiatives to prevent, detect, disrupt and respond to scams affecting individual and small business customers and to develop and in principle agree to the content of a standard reflecting these initiatives. This application for authorisation related to development of the initiatives and a draft industry standard only. The ABA indicated that it would seek a further authorisation at the appropriate time in relation to implementation of the industry standard, if required. Authorisation was sought for 12 months.

ABA sought urgent interim authorisation to enable the Proposed Conduct to occur while the ACCC considers the substantive application.

On 3 August 2023, the ACCC granted interim authorisation with conditions for certain conduct to occur while the ACCC considered the substantive application. The ACCC granted interim authorisation with reporting and transparency conditions to ensure that the ACCC is informed of the progress of their discussions, including consultation with stakeholders, and to manage the risk of ABA Members coordinating on anything beyond scam prevention and customer redress.

On 13 October 2023, the ACCC issued a draft determination with conditions, proposing to grant authorisation until 30 June 2024.

On 7 December 2023, the application for authorisation was withdrawn. Consequently, the interim authorisation granted on 3 August 2023 is no longer in effect. Please see the ‘Applicant to ACCC re Withdrawal of Application’ document below for further details.