Australians lost $2 billion to SMS scams last year, and new rules brought in from Monday intend to change that.
The new provisions, brought in by the Australian Communications and Media Authority place responsibility on telecommunication providers to track down scammers and warn their clients of potential scams.
Providers will also be required to share information on scammers with other companies and report scammers to the authorities.
Minister for Communications Michelle Rowland said the new rules were an important step in protecting those most often at risk.
"These new rules aim to disrupt scammers' business models, which will help to protect vulnerable Australians against scammers accessing their bank account, social media and online businesses," Ms Rowland said.
It comes as the authority released its annual report into scams, which found that the monetary amount scammed in 2021 had increased by 84 per cent since 2019, with most victims aged over 65.
Indigenous Australians' losses to scams increased 142 per cent since 2020.
Ms Rowland said anyone could be a victim.
"Most Australians have either received a scam text message, or know someone who has, and how easy it can be to fall into the trap."
Throughout the COVID-19 pandemic scams have been on the rise, as many relied on SMS alerts for information.
Since the start of the pandemic, the Scamwatch website has received more than 6000 scam reports mentioning COVID, totalling more than $9 million in losses.
Australia's biggest scam occurred in this period with the "Flu Bot" scam that saw more than 25,000 reports made to the Scamwatch. The scam would infect the victims phone with software if they clicked a link.
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