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ARTICLE · 11 JUNE 2026

Stage 1 Of The Scams Prevention Framework

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP

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On 28 May 2026, the Treasury published stage 1 of its long-awaited package of laws and consultations to designate, implement and operationalise the Scams Prevention Framework (SPF).

AustraliaFinance and Banking
Charlotte Henry
Charlotte Henry
Alice Molan
Alice Molan
Andrew Eastwood
Andrew Eastwood
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On 28 May 2026, the Treasury published stage 1 of its long-awaited package of laws and consultations to designate, implement and operationalise the Scams Prevention Framework (SPF). Other stages will follow (discussed below).

This package (Stage 1 Package) is made up of the following:

  • the Competition and Consumer (Scams Prevention Framework – Regulated Sectors) Designation 2026 which designates the initial sectors and businesses to be regulated entities under the SPF. This passed into law on 22 May 2026 with an effective date of 23 May 2026 (Designation Instrument); 
  • an exposure draft instrument setting out common code obligations and specific code obligations for banks and digital platforms;

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