Scams & Fraud

News about scams, fraud and financial crime

Passkeys are the future for Azupay

Azupay has integrated passkeys across PayTo payments to provide its customers with an additional security layer which is seamless to use, amidst growing concern in the advancement of fraud tactics.

Fintech

Beware Tues arvo - Westpac scam warning

A Westpac survey has revealed new data showing 4pm on Tuesday afternoons is when customers are most likely to fall prey to scammers.

Banks

FICO: Scams, mule accounts and social media

A FICO survey of bank risk executives has found that scams and mule accounts are the leading cybercrime threats banks face across the Asia Pacific region, while social media was identified as a key scam channel.

Banks

Police issue warnings over counterfeit cash

After a spate of incidents involving fake cash, Tasmania and Queensland police have issued warnings about counterfeit $100 and $50 notes.

Cash

Westpac live with Confirm Payee, while the industry lurches towards possible Christmas rollout

The so-called launch of the ‘Confirm Payee’ anti-scam technology is less than it looks and its hardly the first time the Australian Banking Association had buried the small print.

Banks

$100 million invested in “Confirmation of Payee” to fight scammers

A new name-matching service designed to help protect customers from being tricked into sending money to criminals was launched today.

Banks

CBA joins AI-powered scam fight

CBA is the latest bank to announce AI remedies to scams, this time using a fleet of thousands of fake Aussie consumers to keep scammers busy and disrupt their operations.

Banks

Stay scam alert as FY closes - ANZ

ANZ has warned Aussies to watch out for tax-related impersonation scams and dodgy offers as the financial year draws to a close.

Banks

Older Australians targeted by new deposit scams

Older Australians are particularly vulnerable to a range of new deposit scams, according to Bendigo Bank.

Banks

Fighting AI with AI – tech battle looming to combat Aussie APP scams

Friendly AI may be the best form of defence against predicted increases in sophisticated AI-driven criminal scams in Australia, according ACI Worldwide’s Scamscope report.

Easter warning on SME scams

Small businesses should take extra caution during the upcoming Easter break as there is often a spike in scams throughout busy holiday periods, the Commonwealth Bank has warned.

We're too ashamed to talk about scams, says survey

Only 8 per cent of Australians say they would be comfortable talking to their family about being scammed, a new Commonwealth Bank survey reveals.

Government

AUSTRAC expects payments industry to know and report illegal tobacco sellers

AUSTRAC has warned elements of the payments industry currently supplying payments terminals and ATMs to illegal tobacco shops that it expects them to follow the law, know their customers and report illegal transactions.

Regulation