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AAP

Kat Wong and Tess Ikonomou

Customers lose thousands in scams due to telco failures

Medion ACMA Nerida OLoughlin Mick Tsikas

Telcos are required to conduct multi-factor ID authentication checks before high-risk requests. (Mick Tsikas/AAP PHOTOS)

Australians who lost tens of thousands to SIM card fraud now have retribution after their telco was fined over compliance failures that led to the scam.

The Australian Communications and Media Authority (ACMA) revealed Medion has been forced to pay a $260,000 fine after the watchdog found the telco had not complied with customer ID rules.

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