17 July 2023
Australians are under attack from scams, part of a worsening global scams scourge, and all sectors need to ramp up the fight against these criminals, including government, law enforcement, banks, telcos, social media, crypto platforms and individuals.
The ABA welcomes the announcement from Optus today to launch ‘Call Stop’, an automated technology to help protect its customers from SMS scams.
Acting on intelligence provided by banks to the Australian Financial Crimes Exchange (AFCX), an independent body built and funded by Australian banks, this will help to stamp out ‘call back scams’ where customers call a fraudulent number when prompted by a scam SMS or email.
ABA Deputy CEO Vanessa Beggs said the announcement from Optus shows why Australia needs telcos, digital platforms and banks to work together to disrupt – and stamp out – scams.
“With most scams starting with a SMS or phone call, this approach highlights why we need telcos to take down these scam numbers so they can’t be used to trick more consumers,” Ms Beggs said.
“ABA will work with its members to contribute to this initiative and encourages others in the telecommunication industry to also take part.”
Read the full announcement from Optus here.
Latest news
E&OERadio InterviewABC Illawarra22 July 2026. Topics: Buying and selling of bank accounts; Efforts to combat money laundering; Scam prevention efforts by banks Melinda James: Well, this is a big and growing problem. There were 13,000 bank accounts shut down by the four major Australian banks in the financial year 2023–24. So, how big a problem… Read more »
Thank you for the opportunity to appear alongside our friends and colleagues at COBA today. The Cash Distribution Framework Bills are a critical step to provide security to the long-term availability of cash in Australia. Our written submission sets out our position in detail. Today I will focus on a few key points. The banking industry is committed to ensuring that Australians who… Read more »
E&OERadio Interview2SM Sydney21 July 2026. Topics: Buying and selling of bank accounts; Efforts to combat money laundering Tim Webster: Look, we spoke to Peter Price from Crime Stoppers, the boss at Crime Stoppers, about this banking mules. I mean, this ridiculous situation where the young ones are coerced into being, you know, money mules and… Read more »