The Australian Banking Association (ABA) is the information source for the news media on the Australian banking industry, providing information, analysis and context on industry issues.
The ABA plays an active role in the public dialogue on banking and financial services, providing commentary on broader industry issues and facilitating access to other sources of information.
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Banks welcome the release of draft legislation to establish a new Scam Prevention Framework to better protect consumers and drive scammers out of Australia. ABA CEO Anna Bligh said winning the war against scammers will only be possible through a collective effort across the entire scams chain, including from government, banks, telcos and social media… Read more »
The Australian Banking Association (ABA) has collaborated with Chartered Accountants Australia and New Zealand (CAANZ), CPA Australia (CPA), and the Australian Taxation Office (ATO) to create a support-based factsheet for small business customers who might be struggling to make repayments. Many things can cause a business owner to have difficulties repaying their debts and it’s… Read more »
The ABA is reminding customers to remain vigilant to the tell-tale signs of scammers as Australian banks continue to ramp-up protections to help keep their money safe. ABA CEO Anna Bligh said this year’s theme ‘share a story, stop a scam’ was an opportunity for all Australians to support each other and fight back against… Read more »
The ABA welcomes the passage of the SMS Sender ID Register legislation as one more weapon in Australia’s arsenal to win the war on scams. ABA CEO Anna Bligh said this new registry will help to disrupt the business models for SMS impersonation scammers and make Australia a harder target for scam activity. “Scammers usually… Read more »
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… Read more »
Australians are now one step closer to having access to another important layer of protection against scammers with the design of the new Confirmation of Payee service now complete. Australian Payments Plus (AP+) and the Australian Banking Association (ABA) announced this important milestone today which, when rolled-out, will enable people paying to an account with… Read more »
The Australian Banking Association (ABA) welcomes the Federal Government’s upcoming campaign to further educate the community about elder abuse. ABA CEO Anna Bligh said this was a timely opportunity to further raise awareness and shine the spotlight on financial elder abuse. “Australian banks are deeply conscious of financial elder abuse. They see it playing out every day and have… Read more »
The ABA has today released the findings of a strategic review undertaken by Accenture into the roll-out of Australia’s Consumer Data Right (CDR) regime. The CDR went live to customers of major banks in July 2020, and to customers of other banks in July 2021. Approaching 4 years since its launch, the ABA commissioned Accenture… Read more »
The Australian Banking Association welcomes ASIC’s approval of an updated Banking Code of Practice that will continue to drive better banking outcomes for customers. The updated Code strengthens consumer protections by providing customers with safeguards that are in addition to the law. ABA CEO Anna Bligh said this Code will provide an even higher… Read more »
Australia’s digital banking boom is continuing with payments by mobile wallets surging by 35 per cent in the last year alone, according to a new report released today by the Australian Banking Association. The 2024 ‘Bank On It’ Report shows that in the last year alone customers made $126 billion in payments with their mobile… Read more »
The ABA, major banks and major retailers have reached an agreement with Armaguard for its Cash-in-Transit business.
With it being World Elder Abuse Awareness Day, the Australian Banking Association (ABA) is reminding older Australians about how they can better protect themselves from scams, fraud and financial abuse.
Scammers are being put on notice with the announcement today of a major expansion in intelligence sharing designed to dismantle scams and better protect Australians.
Banks will this week join a scams delegation to Singapore as part of the industry’s ongoing efforts to take up the fight to scammers and protect customers.
The ABA welcomes the 2024-25 Federal Budget and its focus on further strengthening the safety of our financial system.
Banks are continuing to play their part to protect Australians from scams, as the industry welcomes a new report showing scam losses fell by 13 per cent last year. The Australian Banking Association acknowledges the release today of the 2023 Targeting Scams Report by the National Anti-Scam Centre. Whilst there was an 18.5 per… Read more »
Australians facing difficult financial decisions are being reminded to get in touch with their bank and get the support they need to keep repayments on track. The Australian Banking Association (ABA) is extending its ‘don’t tough it out on your own’ campaign which was launched last year, with a further round of advertisements to run… Read more »
The Australian Banking Association acknowledges Linfox Armaguard (LFA)’s statement that they won’t be taking up the offer of financial support from a collective of banks, retailers and supermarkets. We welcome Armaguard’s commitment that they will continue to operate and have secured funds from their parent company to maintain their full suite of services. Australia’s largest… Read more »
The Australian Banking Association (ABA) welcomes legislation passing through the Senate to expand Australia’s digital identity system. Importantly, this legislation will allow banks to apply to join the nationwide framework within two years of commencement. ABA CEO Anna Bligh said a voluntary nationwide Digital ID would be another important tool for banks to help protect… Read more »
The Australian Banking Association welcomes the release today of a new report from the National Anti-Scam Centre showing that industry and government measures to tackle scams are protecting more Australians. The latest quarterly report shows that overall scam losses in the 2023 December quarter were down by 43% compared to the same quarter last year. … Read more »