Commonwealth Bank of Australia made “two announcements” on their mobile application to combat online and phone scammers, according to CBA Group Executive Retail Banking Services Angus Sullivan.
“Two announcements, the first the caller check … you need a way of verifying ‘is the person that’s calling me actually from the institution that they claim to be?’” he told Sky News Business Editor Ross Greenwood.
“What we’re announcing today with caller check is the ability for all CBA customers who have the app, anytime we call them, they can go into the app and check that it’s us calling them. “The second one is around customers making new payments to BSB and account numbers – business email compromise is a type of scam that this is responding to or mistaken payments.
“So you go in, you’re about to make a first-time payment to a BSB and account number … we’ve used data and analytics to be able to serve up to customers a read on ‘yep, that account number and that name, they seem to have a match …’ or ‘Nope, they don’t look like a match’.”
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