Westpac is ramping up its efforts to protect customers from scams, adding 50 new team members to its fraud and scam operations team and introducing a digital reporting feature for scam, fraud, or mistaken payment reporting directly through its app.
These measures come as part of a broader strategy to enhance scam prevention, which has already saved customers $237 million in FY24 through advanced detection technologies.
Carolyn McCann (pictured above), Westpac group executive of customer and corporate services, emphasised the importance of staying ahead of scammers’ tactics.
“We are investing heavily in our scam detection and prevention capabilities to help keep our customers safe, though we know scammers keep evolving their tactics, so we encourage customers to be on alert,” McCann said in a media release.
McCann said that the new hires and app feature are key elements in Westpac’s approach to tackling scams. She highlighted the need for broader action.
“Scam protection is a team sport, and we need other organisations across Australia to play their part,” McCann said. “It’s so important that social media platforms take action to shut scams down at the source.”
The new digital reporting feature complements existing fraud prevention tools already available to Westpac customers. These include:
With the team now totaling 550 fraud specialists and new technologies in place, Westpac continues to lead in scam prevention. The bank said that by combining cutting-edge tools with a proactive stance, it aims to keep customers one step ahead of scammers in an ever-evolving landscape.
Visit the Westpac media centre for more news on how Westpac fights against scam and fraud.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
