Australian Payments Plus (AP+) has resolved to work with NPP Participants to deliver a Confirmation of Payee service for payments made using BSB and Account numbers. Confirmation of Payee will help reduce certain types of scams that involve misdirection of payment to an account that does not belong to the intended payee as well as […]
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During this Scams Awareness Week, we’re sharing our top tips to combat scams. Following on from Safeguarding older and vulnerable individuals from scams today we bring you the next tip in our series. Tip 2: Protect your data like you protect your wallet! Financial institutions spare no effort in combating fraud and protecting their customers […]
In this digital age, scams can affect anyone, regardless of age or technological know-how. However, older, and more vulnerable individuals tend to fall prey to scams more often. […]
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The AusPayNet 2023 Annual Review, ‘A Turning Point’, offers insights into AusPayNet’s important work at a critical time for the banking and payments industry. Some key highlights include: Successful leadership of the first phase of Australia’s ISO 20022 Industry Migration Program Significant progression of work to become an authorised standards-setting body Facilitation of ECF to […]
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The Government is releasing its Strategic Plan for the future of Australia’s payments system which sets out its policy objectives and priorities for the payments system. The Strategic Plan was developed through a consultation process in collaboration with regulators, industry, consumer and business representatives. The Strategic Plan provides businesses with certainty and clarity on the […]
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Government’s Strategic Plan for Payments has been much anticipated since its consultation late last year. Similarly, it was excellent to see today’s announcements of the consultations on the Payment Systems (Regulation) Act and on the new payments licensing regime. Why? Well, collectively they will, in two ways, ensure that Australia’s payments system is fit for […]
Fraud Cases From the Wild In our digital world, behaviour tells all. The BioCatch Behavioural Insights Report presents an overview of fraud attack trends and insights collected by our Threat Analytics team based on their experiences working on the front lines with global customers. In these short stories, we highlight how BioCatch is delivering actionable […]
More money lost to fraud and scams […]
The global pandemic and subsequent economic downturn has presented a new set of challenges for financial institutions as they work to keep pace with financial crimes across the sector. […]
