ASIC to sue HSBC over 'spoofing' scam
www.abc.net.au
The corporate watchdog is suing banking giant HSBC over a scam that netted $23 million, alleging it failed to protect 950 Australian customers.

In short:

ASIC has lodged a claim against HSBC’s Australian arm in the federal court.

The action relates to 950 reports alleging scammers netted $23 million over nearly five years.

What’s next?

HSBC says it will “continue to make significant investments in our fraud and scam prevention, detection, and response, with specific efforts on preventing impersonation scams and ‘spoofing’ of phone numbers”.