.CommBank is launching new verification measures for money transfers and phone banking, after a predicted $2 billion surge in scams gave rise to calls late last year for banks to take more responsibility.
The Commonwealth Bank of Australia is launching new verification measures for money transfers and phone banking, after a predicted $2 billion surge in scams gave rise to calls late last year for banks to take more responsibility.
In March, CBA will follow the Netherlands’ lead, launching NameCheck, a machine-learning based technology. “I think it’s going to be a while before we see those two methods at really mass-scale across the industry,” he said. “BSB and account numbers will stick around for a while, and we want to make sure that we can keep our customers safe.”
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