Banks launch new campaign in fight against scammers

Campaign assets can be accessed here.  ​

12 August 2024

Extra protections from banks to shield Australians from scams will be front and centre of a new campaign to be launched today.  

With the tag line ‘The fight against scams never stops’, the campaign showcases the range of safeguards banks are introducing as part of the industry’s Scam-Safe Accord:  

ABA CEO Anna Bligh said banks had some of the strongest anti-scam protections in the world to help shield Australians from scammers.  

“Scams are a scourge on our society. Every day, too many people are being targeted by scammers who only have one objective and that’s to steal money,” Ms Bligh said. 

“Whether it is the middle of the day or the middle of the night, banks are deploying cutting-edge technology to identify potential scam activity and stop scammers in their tracks.

“While we must all remain vigilant to the risks of scams, Australians should have confidence that their bank is working around the clock to keep them safe from scammers.   

“Banks have a range of tactics and tools they deploy to shield Australians from scammers such as payment warnings and delays to the blocking of transfers to dodgy scam accounts. 

“Customers will start seeing more payment delays or warnings when transferring money to someone they haven’t paid before. This will allow banks to spot red flags and help them check that money isn’t going directly to a scammer.”  

Customer Owned Banking Association (COBA) Chief Operating Officer Stephanie Elliott said that scam prevention and detection are top priorities for the 55 mutual banks and credit unions they represent. 

“Scammers are sophisticated criminals operating within a complex network, requiring cross-industry collaboration to disrupt their activities. Australia’s ecosystem approach shows promise, with scam losses decreasing for the first time in six years,” Ms Elliott said. 

“Customer-owned banks are committed to deploying innovative and collaborative measures to disrupt unscrupulous scammers,” she added. 

The banking industry’s Scam-Safe Accord includes:    

Progress continues to be made on the development of the industry-wide confirmation of payee capability with the design phase now complete and build underway. Australia will only be one of a handful of countries in the world to have this capability.  

The campaign will run from today for the next six weeks and include advertisements on billboards and across TV, radio and digital channels.  

Contact: Benn Ayre | [email protected] | 0428 342 325
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