The ABA welcomes the launch today of the Federal Government's new scam awareness campaign, encouraging Australians to STOP. CHECK. PROTECT.
ABA CEO Anna Bligh said this was a timely reminder for Australians to be on the look-out for the tell-tale signs that you might be being scammed.
"Scams are a blight on our society. Every dollar lost is a dollar too much," Ms Bligh said.
"While Australia is one of the few countries in the world reporting declining losses, ongoing community education and awareness of the risks that scams pose is absolutely critical.
"Scammers will continue to evolve their tactics to trick Australians and that's why we all need to be on high alert.
"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.
"Our industry fully backs the clear messaging of this campaign – if something doesn't feel right, make sure you stop, check and protect yourself from scams.
"Whilst awareness is key, banks are also continuing to take the fight to scammers with world-leading safeguards to keep your money safe.
"Our industry's Scam-Safe Accord is seeing banks put in place new scam protections including confirmation of payee technology, more payment warnings and delays, identity checks and enhanced intelligence sharing
"Banks will continue to work with the Federal Government and other sectors to fight scammers and reduce losses even further."
The banking industry's Scam-Safe Accord includes:
- a $100 million investment by banks in a new confirmation of payee system, ensuring people can confirm they are transferring money to the person they intend to
- introducing more warnings and payment delays to protect customers
- adopting further technology and controls to help prevent identity fraud, such as the use of at least one biometric check for new individual customers opening accounts
- investing in a major expansion of intelligence sharing across the sector
- all banks to implement anti-scams strategies.
