Some banks have internal policies that prevent the use of links in their communications with customers. The Commonwealth Bank, for example, has internal SMS guidelines stating links cannot be included in the bank’s marketing with customers.

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Assistant Treasurer Stephen Jones said everyone, including companies and individuals, had a level of accountability regarding scams, but that they needed to be made more clear.

“We’re now moving onto a code of practice to set clear obligations and accountabilities to make it very clear when, for example, in a scam event, the bank is liable and when it’s on the individual,” Jones said.

“It would be dangerous to say the bank always pays because if you’re a criminal network, and you know that in Australia we’ve got that rule, you’ve got a victimless crime and a pot of gold to go after.”

NAB expects to complete the process of removing links in unexpected text messages by the end of July, and Jones said he would consult the banking industry over coming months about the code of practice.

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