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Australians are being urged to "STOP. CHECK. PROTECT." as part of a new federal government campaign aimed at raising awareness about scams and reducing financial losses.
Australian Banking Association (ABA) CEO Anna Bligh emphasised the importance of vigilance. Although Australia is among the few countries reporting a fall in scam-related losses, she noted ongoing education and awareness remain critical to staying ahead of sophisticated schemes.
“Scams are a blight on our society. Every dollar lost is a dollar too much. This campaign is an important reminder to all of us, that as we go about our daily lives, it pays to remain vigilant to the risks of scams,” Bligh said.
The banking industry has thrown its support behind the campaign, with financial institutions implementing enhanced protections under the Scam-Safe Accord. These measures include a $100 million confirmation of payee system to help customers verify payment recipients, expanded warnings and delays for suspicious transactions, and the introduction of biometric checks to prevent identity fraud.
Collaboration with the federal government and other sectors remains central to the effort, with banks increasing intelligence-sharing and rolling out anti-scam strategies across the board.
“Scammers will continue to evolve their tactics to trick Australians and that’s why we all need to be on high alert. Banks will continue to work with the federal government and other sectors to fight scammers and reduce losses even further,” Bligh said.
