The Australian Banking Association, comprised of 20 banks across Australia, urged the government to extend its new Scam Prevention Framework bill to cryptocurrency, superannuation, and other payment providers, according to a statement posted on Thursday.

Under the new bill, banks will be held accountable for the actions they are taking to protect customers and they are ramping up anti-scam measures through the banking industry's scam-safe accord, the statement added,

"We also encourage the Government to move promptly to expand the framework to other sectors such as cryptocurrency, superannuation, and other payment providers", said the association's Chief of Policy Christopher Taylor.