LOGIN
SUBSCRIBE
UPGRADE
LOGOUT
Open menu
PayDay News - Payments Industry News Australia
Got a story
to share?
Open menu
LOGIN
SUBSCRIBE
UPGRADE
LOGOUT
PayDay News | Australian Payments News

CoP halts 450k risky transfers at one bank!

Reporter
11 Mar, 2026
Add us as a preferred source on Google
Rachel St Clair
Reporter
11 Mar, 2026
Add us as a preferred source on Google
Thanks to the integration of Confirmation of Payee (CoP), banks have marked a major milestone in efforts to protect consumers and businesses from scams and misdirected payments.
CoP halts 450k risky transfers at one bank!
Since launch, CoP has been used over 100 million times, with one bank reporting more than 450,000 payments abandoned

Thanks to the integration of Confirmation of Payee (CoP), banks have marked a major milestone in efforts to protect consumers and businesses from scams and misdirected payments.

Subscriber article

This article is available to PayDay News subscribers.

Subscribe to continue reading
PAYDAY NEWS ANNIVERSARY EDITION

trending

The fault lines in Australia’s payments
Commentator Vibhu Arya breaks down the recent RBA submissions, analysing who is lobbying for what at a high level.
Affirm and Shopify launch Shop Pay Installments in Australia
Australian merchants on Shopify will have another BNPL option to pay with the launch of Shop Pay Installments.
NAB and AP+ warn card tokenisation closing off least-cost routing
NAB and Australian Payments Plus (AP+) have warned that card tokenisation could undermine the merchant benefits of least-cost routing, but differ on how far regulators should intervene and
Adyen consolidates Melbourne’s Limitless payments across six Asian markets
Melbourne-based gifting group Limitless Technology has consolidated four payment gateways onto Adyen, simplifying payments across five brands and six Asia-Pacific markets as it continues to expand its e-commerce
Fintechs push RBA to open NPP access and unlock A2A competition
Australian fintech heavyweights led by Airwallex, Adyen, Azupay and Digital Economy Council has put access to the NPP at the centre of the RBA’s regulatory review, calling for

RELATED STORIES ▸

AUSTRAC issues AML/CTF notices to non-enrolled businesses
AUSTRAC issues AML/CTF notices to non-enrolled businesses
AUSTRAC issues AML/CTF notices to non-enrolled businesses
Businesses that play an important role in helping detect and prevent money laundering but are not enrolled under Australia’s AML ...
AUSTRAC: payment platforms need better fraud checks
AUSTRAC: payment platforms need better fraud checks
AUSTRAC: payment platforms need better fraud checks
AUSTRAC has confirmed payment platforms are included in its mortgage fraud crackdown, with CEO Brendan Thomas pointing to source-of-funds verification ...
Thriday, pay.com.au hit by mirror email platform breaches
Thriday, pay.com.au hit by mirror email platform breaches
Thriday, pay.com.au hit by mirror email platform breaches
pay.com.au and Tyro-owned Thriday have both warned customers about phishing emails after a third-party platform used to design and send ...
RBA tackles fraud complexity, but what about “friendly fraud”, chargebacks and fees?
RBA tackles fraud complexity, but what about “friendly fraud”, chargebacks and fees?
RBA tackles fraud complexity, but what about “friendly fraud”, chargebacks and fees?
The Reserve Bank of Australia (RBA) has opened a major debate on the future of payments security but one issue ...
Digital ID opens to private sector as rental pilot shows CDR’s real-world promise
Digital ID opens to private sector as rental pilot shows CDR’s real-world promise
Digital ID opens to private sector as rental pilot shows CDR’s real-world promise
The Government will open Australia's Digital ID system to private sector participation from December, as a new pilot demonstrates how ...
NAB launches Nexus hub as cyber threats surge
NAB launches Nexus hub as cyber threats surge
NAB launches Nexus hub as cyber threats surge
NAB has unveiled a new around-the-clock operations hub that brings together cyber, fraud, payments and security teams as Australian banks ...

Got a story to share?

Get in touch with PayDay News today!
Click here to email us

Topics

Advertising Enquiry

Fill out the form below, and we will be in touch shortly.

Contact Information

Got a story to share

Fill out the form below, and we will be in touch shortly.

Contact Information