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.
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“Vigilance is required at all times of the year as scammers grow increasingly persistent and sophisticated in their tactics”
“At this time of the year, with Christmas upon us, we’re encouraging people to be extra vigilant.”
“The bank robbers of the 21st century do not use sawn-off shotguns – they are sitting at a computer trying to get into your account and trying to trick you into letting them in.”
“One of the most important steps customers can take to prevent scams today is to use PayID”
The Australian Banking Association (ABA) is encouraging farmers and small businesses in regional areas to remain vigilant for potential scams following a significant rise in 2022.
“The whole industry has worked closely with the Australian Government to make today’s regulations possible.”
Unlike paying to a BSB and account number, PayID gives the user the ability to confirm the name of the account holder before they transfer funds.
Services such as PayID, BPay and e-invoicing will show who you’re paying before you pay, ensuring money is going to the intended account.
As more Australians experience financial scams, the ABA has launched a new campaign to raise awareness on the increasing threat of scams, warning Australians to be on the lookout for scam phone calls, texts and emails. FULL TRANSCRIPT: ABA CEO Anna Bligh spoke with ABC Radio’s Ross Marsden. Ross Marsden The Australian Banking Association has… Read more »