Reported 1 day ago
Major Australian banks have teamed up with Israeli startup BioCatch to launch a pilot program aimed at reducing banking fraud and scams. The BioCatch Trust™ Australia initiative will create an inter-bank network for sharing intelligence on customer behavior to identify potential fraud. This move comes as scams in Australia have surged, costing citizens A$2.7 billion ($1.76 billion) in losses in 2023. The Australian Competition and Consumer Commission is also pushing for stricter regulations to combat online scams.
Source: YAHOO