🇦🇺Australia

TIO Compensation for SIM Swap Failures

1 verified sources

Definition

TIO can require providers to waive charges, compensate privacy breaches, provide new numbers, or allow contract exits if proper care not taken in fraud detection.

Key Findings

  • Financial Impact: AUD compensation per case: waived charges + privacy breach payments (typical range AUD 1,000-10,000+ per incident)[2]
  • Frequency: Common in unauthorised swaps reported to Ombudsman
  • Root Cause: Failure to make reasonable identity verification attempts or respond quickly to reports

Why This Matters

The Pitch: Wireless Services in Australia 🇦🇺 incur compensation costs for SIM swap mishandling. Automation of verification processes avoids TIO remedies.

Affected Stakeholders

Legal Teams, Customer Support, Risk Managers

Deep Analysis (Premium)

Financial Impact

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Current Workarounds

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

SIM Swap Fraud Losses

AUD multi-million-dollar losses per incident; compensation for charges, new numbers, contract exits[1][2]

Porting Fraud Financial Crimes

AUD losses from enabled fraud: bank account drains, superannuation theft (industry est. millions annually)[3]

TCP Code Credit Assessment Non-Compliance Penalties

AUD 10,000+ per breach in ACMA enforcement penalties; typical investigation costs 20-50 hours/legal fees per incident

Credit Check Failures Causing Lost Sales

2-5% lost post-paid revenue per rejected application; average contract value AUD 1,000+

Fehlkalkulierte Händlerprovisionen durch komplexe Tarif- und Rabattstrukturen

Quantified (LOGIC): Bei einem über Händler abgewickelten Umsatz von AUD 50–100 Mio. p.a. und einer durchschnittlichen Provisionsquote von 8–12 % entstehen Provisionspools von AUD 4–12 Mio. p.a. Bereits 1–3 % Fehlberechnung in manuellen Prozessen verursachen AUD 40.000–360.000 vermeidbare Provisionsüberzahlungen pro Jahr.

Hoher manueller Abrechnungsaufwand für Händlerprovisionen

Quantified (LOGIC): 1–2 FTE x 3–5 Tage/Monat für Provisionsabrechnung und Streitfallbearbeitung = 24–40 Tage/Jahr. Bei ca. AUD 500–700 Vollkosten/Tag resultieren direkte Prozesskosten von etwa AUD 12.000–28.000 p.a., exklusive Opportunitätskosten.

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