Fraud Reporting Exchange News Today

The nation's financial watchdog received a record number of complaints in 2023 and fears the trend is "unsustainable". Here's a breakdown of the issues Australians faced.

NZ banks promise more details on implementation of a confirmation of payee service in April

The Minister for Financial Services Stephen Jones has backed calls to put some “friction” back into the retail payments system to enable more effective fraud detection.

New $100m 'confirmation of payee' system to be developed.

Scammers now face the wrath of a Scam-Safe Accord that promises to roll out a confirmation-of-payee system across all Australian banks.

Banks are stepping up their efforts to protect their customers against scams, announcing the launch of a Scam-Safe Accord whose first project will be the development of a confirmation of payee system.

Australia’s biggest banks have announced a $100m change to the way people pay online in a bid to protect customers against fraudsters and identity scams.

The Australian Banking Association says the new "confirmation of payee" system will help ensure customers they are paying the right person.

With cyber-crime on the rise, should Australia follow in the UK's footsteps and make banks reimburse scam victims? Forbes Advisor takes a closer look at the issue.

The ACCC has green lighted cross-banking collaboration to address scams. Learn how Australian IT pros can address the regulatory environment.