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Faster payments need increased digital banking security in Australia
Faster payments need increased digital banking security in Australia
04 July 2021 12:00AM
Plenty has been written on the benefits of frictionless payments – and there is no doubt consumers and businesses have benefited greatly. On the flipside, the spread of payments platforms and potential cross-border linkages has meant fraud has also increased.
Regulators are alert to this risk. In its recent targeting scams report, the Australian Competition and Consumer Commission (ACCC) warned that all categories of financial fraud were on the rise in 2020, with more to come.
According to the ACCC, the losses from scams last year reported by government agencies and 10 large Australian banks that pooled their data, totalled $850 million. This amount could have been even larger, were it not for the work by Australia s large banks and financial institutions, which saved nearly $208 million from being sent ....

New Zealand , United Kingdom , Asia Pacific , Bank Payments System Board , Consumer Commission , Australian Competition , Reserve Bank , New Payments Platform , Payments System Board , Malcolm Macnaughtan , Regional Vice President , Engagement Banking , புதியது ஜீலாந்து , ஒன்றுபட்டது கிஂக்டம் , ஆசியா பெஸிஃபிக் , வங்கி கொடுப்பனவுகள் அமைப்பு பலகை , நுகர்வோர் தரகு , ஆஸ்திரேலிய போட்டி , இருப்பு வங்கி , புதியது கொடுப்பனவுகள் நடைமேடை , கொடுப்பனவுகள் அமைப்பு பலகை , பிராந்திய துணை ப்ரெஸிடெஂட் , நிச்சயதார்த்தம் வங்கி ,