Australian banks are launching a new campaign, titled The fight against scams never stops, aimed at enhancing consumer protection against scammers.
The initiative highlights the industry’s commitment to safeguarding customers through the Scam-Safe Accord, which includes measures like a new payment system, unique identity checks, and increased intelligence sharing between banks.
ABA CEO Anna Bligh (pictured above left) stressed the importance of these protections.
“Scams are a scourge on our society...,” Bligh said. “Banks are deploying cutting-edge technology to identify potential scam activity and stop scammers in their tracks.”
The campaign will alert customers to expect more payment delays and warnings when transferring money, ensuring that funds aren’t sent to scam accounts.
See LinkedIn post here.
Stephanie Elliott (pictured above right), COO of the Customer Owned Banking Association, highlighted the significance of cross-industry collaboration in combating scams.
“Scammers are sophisticated criminals...,” Elliot said. “Australia’s ecosystem approach shows promise, with scam losses decreasing for the first time in six years.”
The campaign, backed by a $100 million investment in a new payment verification system, will run for six weeks, utilising billboards, TV, radio, and digital channels to reach a wide audience.
Read the ABA media release here. Campaign assets can be accessed here.
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