Fraud

• John Kavanagh

The Australian Taxation Office has conducted raids on business suspected of using, manufacturing or supplying electronic sales suppression tools to avoid paying tax, and it has issued a warning to bus.. read more

• John Kavanagh

Reports of scam losses to the ACCC’s Scamwatch service declined in the December quarter, with decreases in all the common forms of scam activity. read more

• John Kavanagh

Consumer groups and community legal centres have renewed their call for financial institutions to be liable for their customers’ scam losses, following a move by the New Zealand government to require.. read more

• John Kavanagh

A fall in data breaches reported by the financial services industry last year suggests the work by banks and other financial institutions to improve cyber security is starting to pay off. read more

• John Kavanagh

Consumer groups and community legal centres are pushing for liability for reimbursement to be included in the scam regulatory framework currently being developed by the government. read more

• John Kavanagh

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. read more

• John Kavanagh

Following the announcement that banks will develop a confirmation of payee system as the priority project for the industry’s new Scam-Safe Accord, Australian Payments Plus has detailed the work it wil.. read more

• John Kavanagh

The government is planning to introduce mandatory industry scam codes, with banks at the top of the list of priority sectors alongside telcos and digital platforms. read more

• John Kavanagh

Banks are stepping up their efforts to protect their customers against scams, announcing the launch of a Scam-Safe Accord whose first project will be the development of a confirmation of payee system. read more

• John Kavanagh

Dealing with complaints over scams is a growing area of activity for the Australian Financial Complaints Authority, occasionally putting the ombudsman at loggerheads with financial institutions. read more

• George Lekakis

Bendigo and Adelaide Bank’s 2023 annual meeting was dominated by intense discussion about the devastating impact of online financial crime on retirees and the narrowing of their choices to avoid using.. read more

• John Kavanagh

The shift to digital banking has increased financial institutions’ exposure to sophisticated financial crimes, a global survey of financial institutions has found. read more

• John Kavanagh

Data breach numbers dropped significantly in the first half of the year but efforts by financial services companies to improve data security had limited results, with the sector reporting the second h.. read more

• Ian Rogers

NAB research shows consumers and businesses “are increasingly prepared to make trade-offs for greater protection from scams”. read more

• John Kavanagh

A Treasury discussion paper on options for regulating screen scraping makes clear that, in a period of heightened concern about online scams and fraud, the controversial data sharing technology will n.. read more

• Ian Rogers

Latitude Financial says it is bouncing back from the cyber attack it suffered in March. read more

• George Lekakis

Bendigo and Adelaide Bank is the first bank to partly disclose details about the level of financial losses it is incurring from the boom in online fraud and scams. read more

• John Kavanagh

The Australian Competition and Consumer Commission has authorised banks to collaborate on the development of an industry standard to detect and prevent scams. read more

• Banking Day staff

Bank of Queensland yesterday released its Pillar 3 report for the three months to May, revealing a big jump in home loan arrears. The value of non-performing residential mortgages rose from A$520 mill.. read more

• Ian Rogers

Commonwealth Bank may be taking the lead on establishing a policy to compensate customers that fall victim to scams. read more