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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.