Scams & Fraud

News about scams, fraud and financial crime

Digital & Online

Leaked list reveals high risk NPP customers

Mar 25, 2026

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Leaked list reveals high risk NPP customers

Cuscal, Westpac, Zepto and ANZ have been told to keep a close eye on more than two dozen companies in the remittance and money transfer, securities with investments and gambling sectors that feature on a leaked “high risk” list of merchants they connect to the financial system via the New Payments Platform.

Banks

Mar 18, 2026

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CHOICE: banks not doing their bit to stop financial elder abuse

A CHOICE report has found that most banks aren’t complying with their own industry code of practice to stop elder financial abuse - costing vulnerable people several billions of dollars a year.

Digital & Online

Little action on illicit tobacco instore and online payments as “wars” escalate

Mar 18, 2026

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Little action on illicit tobacco instore and online payments as “wars” escalate

With illegal tobacco being couriered around the country by Australia Post on the back of online payments, only CBA and Tyro appear to be taking noticeable action as the Federal Coalition sets up its own tobacco taskforce.

Regulation

Rare debit surcharge slap for Hyatt just days away from RBA decision

Mar 18, 2026

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Rare debit surcharge slap for Hyatt just days away from RBA decision

More than 18 months after receiving $2.1 million in funding for surcharging surveillance, the competition regulator has finally taken action.

Digital & Online

With scammers riding roughshod on its network, Telstra teams with banks to catch mules

Mar 18, 2026

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With scammers riding roughshod on its network, Telstra teams with banks to catch mules

Telstra just announced it's teaming up with ANZ, NAB and Westpac to hunt money mules – people who shuffle stolen cash through their bank accounts on behalf of criminal networks. But why can’t the telco block dodgy callers and messages riding the network in the first place, like Samsung does?

Scams & Fraud

CoP halts 450k risky transfers at one bank!

Mar 11, 2026

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CoP halts 450k risky transfers at one bank!

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.

Digital & Online

Illicit tobacco online via payments rails, delivered by Australia Post

Mar 11, 2026

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Illicit tobacco online via payments rails, delivered by Australia Post

Australia Post has become the chief courier service for illicit tobacco, with payments provided by a raft of companies including PayPal, Visa, Mastercard, Klarna, Stripe, Link, and CBA and ANZ BSBs.

Banks

Feb 18, 2026

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CBA takes the lead on scams and fraud as credit growth bolsters banks

Granular detail on scams and fraud released by the Commonwealth Bank (CBA) throws down the gauntlet to its competitors.

Regulation

AUSTRAC clamps down on crypto with three cancellations

Feb 11, 2026

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AUSTRAC clamps down on crypto with three cancellations

Australia’s AML and financial crime regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC), last week cancelled the registration of three separate crypto firms.

A2A

Feb 4, 2026

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AP+ scales up cybersecurity defences

Australian Payments Plus (AP+) is bulking up its cyber security and fraud capabilities across its critical infrastructure, as Australia comes under increasing threat from bad actors.

Digital & Online

Australia’s near $1 billion card fraud problem sees only slight decline

Feb 4, 2026

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Australia’s near $1 billion card fraud problem sees only slight decline

Despite significant industry action to reduce card fraud, the endemic problem is still costing Australia more than $850 million a year – mainly due to criminal activity on overseas websites, according to the latest AusPayNet data.

Banks

Jan 28, 2026

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NAB scam warning: social media & high-profile Aussies

Criminals impersonating well-known Australians - including nabtrade market analyst Tom Piotrowski - are increasingly using social media to lure people into investment scams and rip them off, according to NAB.

Fintech

Square using machine learning and AI to cut off illicit tobacco

Jan 21, 2026

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Square using machine learning and AI to cut off illicit tobacco

While a group of payments providers are actively working to help stop criminals, others appear to be sanguine, with well-known terminal providers still very visible in illegal tobacco and vape stores.

Scams & Fraud

Framework to combat rampant scammers will launch in July 2026

Jan 7, 2026

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Framework to combat rampant scammers will launch in July 2026

Consultations closed this week on a new framework to help protect consumers from scams - as scammers and criminal gangs continue to wreak havoc on hundreds of thousands of Australian families and businesses.

Digital & Online

Threats to payments system front and centre at summit

Dec 17, 2025

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Threats to payments system front and centre at summit

The resilience of the nation’s payments system has been flagged by the RBA Payments Board as the nation’s cyber security coordinator weighed in at the AusPayNet Summit.

Regulation

ANZ joins tobacco fight as AUSTRAC presses remitters on child exploitation payments

Nov 26, 2025

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ANZ joins tobacco fight as AUSTRAC presses remitters on child exploitation payments

ANZ, like its peers and PSPs, has not revealed how many illicit tobacco merchants have been cut off, as AUSTRAC orders an audit of WorldRemit for child exploitation payments and targets others.

Cash

Nov 26, 2025

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Aussies prepare to flash cash in holiday sales bonanza

While cashless is king during the sales events leading up to Christmas, more than a quarter of shoppers will use cash for some purchases, according to Monash Business School’s annual seasonal retail research report.

Digital & Online

$40 million lost in a year – shoppers beware Black Friday scams

Nov 19, 2025

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$40 million lost in a year – shoppers beware Black Friday scams

Online shoppers should stay alert to scams as Black Friday sales kick-off, with the Australian Bankers Association (ABA) claiming almost $40 million was lost to buying and selling scams over the past year.

Regulation

Comyn quits tobacco – shutting down terminals and accounts

Nov 19, 2025

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Comyn quits tobacco – shutting down terminals and accounts

With ANZ Worldline also taking action, questions remain over whether Westpac and NAB are making any credible efforts.

Regulation

Experts say illegal tobacco PSPs ignore data and fail to make customer checks

Oct 29, 2025

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Experts say illegal tobacco PSPs ignore data and fail to make customer checks

Industry insiders and proceeds of crime experts question whether PSPs are making any effort to help halt the $10 billion trade - and whether the latest government task force will make a difference.

Fintech

Payments companies from CBA to Westpac to ANZ Worldline may be enabling criminal gangs with illegal tobacco sales

Oct 22, 2025

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Payments companies from CBA to Westpac to ANZ Worldline may be enabling criminal gangs with illegal tobacco sales

“Our message is clear: if you profit from illicit tobacco in Australia, you are operating illegally,” says Home Affairs Minister Tony Burke.

Fintech

Square, CBA, NAB and Tyro ready to pull illegal tobacco terminals

Oct 15, 2025

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Square, CBA, NAB and Tyro ready to pull illegal tobacco terminals

A number of Payment Service Providers say they are actively working to identify and block illegal tobacco businesses and remove their POS terminal services.

Digital & Online

Sep 3, 2025

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Macquarie Bank joins BioCatch Trust

Macquarie Bank has joined BioCatch Trust Australia, adding an additional layer of security protection against fraud and scams for its customers.

Banks

Scams Awareness Week: Stop. Check. Protect

Aug 27, 2025

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Scams Awareness Week: Stop. Check. Protect

Scams Awareness Week’s 2025 theme focuses on urging consumers to Stop. Check. Protect. when keeping yourself safe from scams.

Scams & Fraud

Australia’s card fraud problem approaches $1 billion: safe at the checkout, but soaring overseas online

Aug 20, 2025

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Australia’s card fraud problem approaches $1 billion: safe at the checkout, but soaring overseas online

Despite claims by the card schemes that watertight security underpins their fees, gaping loopholes are being exposed by criminals creating a fraud problem worth almost $1billion a year.