Australian Competition and Consumer Commission

With older Australians accounting for one-third of scam losses totalling $319 million in 2024, they will be on the front line of a government initiative to provide the necessary tools to detect and stop fraudulent behaviour.

The regulator said it wasn’t satisfied the deal would not substantially lessen competition in Australian banking, particularly in home loans and small-business banking. ANZ and Suncorp plan to challenge the decision.

With the new federal budget forecasting skyrocketing energy prices, the government is under increasing pressure to intervene. Treasurer Jim Chalmers has ruled out government handouts and is seeking regulatory solutions.