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ARTICLE · 16 MARCH 2025

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Be scam aware: Companies held responsible for verifying payment details they receive

Holding Redlich
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There are 6 principles that aim to prevent and redress the losses suffered because of fraud.

AustraliaPrivacy
Jessica Tilbury
Jessica Tilbury
Gemma Hannah
Gemma Hannah
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A recent decision handed down by the Western Australian District Court may have substantial ramifications for how fraud and invoice scams are treated. On 20 December 2024, Judge Massey delivered judgement in Mobius Group Pty Ltd v Inoteq Pty Ltd [2024] WADC 114, ordering Inoteq Pty Ltd (Inoteq) to pay more than $190,000 to Mobius Group Pty Ltd (Mobius) after it had paid money pursuant to a fraudulent invoice.

This case will see companies held responsible for verifying any payment details they receive, ensuring they are vigilantly implementing and adhering to safety procedures when making payments.

On 21 February 2025, the Scam Prevention Framework Act 2025 (Act) came into effect, which aims to prevent and redress the losses suffered because of fraud. The introduction of this Act will have an impact on companies, who may face serious penalties for failure to comply with framework principles.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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