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Briefs: Tap and Go fraud underreported, Light on non-bank powers

Thousands of tap-and-go fraud offences on contactless payments cards are not reported each year, according to Victoria Police, the Herald Sun reports. Police said they would be overwhelmed with cases, were they notified about every alleged offence. Draft legislation will be made public today that sets out APRA's new powers to regulate non-banks. APRA will be able to impose rules on the entire industry, or "specified" classes of lenders, The Australian reports.

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