Scams & Fraud
News about scams, fraud and financial crime
Fintech
+2
May 27, 2026
•
AP+ compliance breaches shrouded in secrecy as incident concerns rise
A published "naughty list" of NPP breaches fails to properly name the companies responsible or the penalties applied, despite increasing concern about recent incidents like the $3 million social media fraud scheme that forced fintech Revolut to suspend its PayTo service.
Banks
+1
May 20, 2026
•
Budget plan to share tax data could reduce mortgage fraud
ATO data shared via the Consumer Data Right may not just speed up rental and loan applications, but also help the banks fight their $3 billion mortgage fraud problem.
Fintech
+2
May 20, 2026
•
No return date for Revolut PayTo as company clams up in wake of $3m social media zombie fraud
Wannabe Aussie bank Revolut has declined to name a date for the return of its PayTo service after 250 of its “dormant” zombie accounts were used to defraud about $3 million from unsuspecting consumers on social media.
Banks
+1
May 13, 2026
•
Can open banking help tackle Australia’s $82 billion illicit finance problem?
Plagued with delays and scope changes, the CDR rails were built to ease consumer switching — but industry experts said open banking could also help alert us to criminal activities across banks, telcos and platforms, including the growing mortgage fraud problem.
Banks
+1
Apr 29, 2026
•
Warning! CBA’s new AI fraud agent tests 80m signals a day
Commonwealth Bank customers may start to notice more proactive warnings about potentially fraudulent transactions after the bank deployed an advanced agentic AI system.
Banks
+1
Mar 18, 2026
•
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.
