Skip to Content
Login
Close

Quick Links

Tag: Scams

The State of Fraud and Scams in Australia

Posted on by Cuscal Limited

Fraud and scams are rising, and they’re shaking customer confidence at its foundation. Every scam attempt is a moment of vulnerability for your customers. Based on Cuscal’s Quarterly Insights research with over 2,000 Australian consumers, 57% of respondents face scam attempts weekly, and almost one in three has been impacted. Behind every statistic is a person who wants to feel safe when they bank with you.

Trust Starts with Security

Security and trust go hand in hand. Customers expect robust protection, but they also value reassurance that you genuinely have their best interests at heart. Trust drives loyalty, and loyalty translates into retention and revenue. When customers feel both protected and valued, they stay.

Security as a Strategic Advantage

As confirmed by our latest survey and qualitative community study, communication plays a critical role in building that trust. Nine out of ten respondents believe their financial institution should do more to protect them, and 86% want regular updates on new scam tactics. Security has evolved beyond compliance. Today, it’s a competitive advantage and a core promise that influences why customers choose you and stay with you.

Our insights point to five essentials:

  1. Visible, robust protection such as multi-factor authentication and real-time alerts.
  2. Proactive education through scam alerts via SMS, in-app notifications, and targeted campaigns.
  3. Empathetic support with fast, human responses when things go wrong.
  4. Transparent communication that keeps customers informed every step of the way.
  5. Customisable security options that give customers control and confidence.

Strengthening Your Fraud Defences

Fraud prevention goes beyond protection. You’re earning trust when it matters most, and that trust becomes the foundation of lasting customer relationships. Cuscal can help you deliver on that promise with advanced fraud monitoring for cards and real-time payments, AI-driven detection tools, and comprehensive financial crime solutions that keep you ahead of emerging threats.

Stay Ahead of Fraud Threats

Explore the full report for practical strategies, real-world case studies, and industry benchmarks that can help you stay ahead of emerging threats.

Important Information: Information in this web copy and White Paper are current as at 04 March 2026 and is subject to change. This information is provided for general information purposes only and not for the purpose of providing legal, financial or investment advice. The information contained in the web copy and White Paper does not constitute an offer, a solicitation of an offer or to enter a legally binding contract. The web copy and White Paper contains material provided by third parties. While such material is published with the necessary permission, Cuscal does not accept any responsibility for the accuracy or completeness of any such material. Although Cuscal has made every effort to ensure the information is free from error, Cuscal does not warrant the accuracy, adequacy or completeness of the information. Except where contrary to law, Cuscal intends by this notice to exclude liability for the information. This web copy and White Paper is not to be distributed to any other party without Cuscal’s prior written consent. Cuscal Limited ABN 95 087 822 455.

How Confirmation of Payee is Putting the Brakes on Scams

Posted on by Steph Hussey
Girl on bus smiling on her phone looking out window

Scams are costing Australians billions each year and the pressure is mounting on banks and mutuals to continuously step up their defences. That’s the goal of the 2024 Scam-Safe Accord, a new industry framework led by the Australian Banking Association (ABA) to reduce scam losses and improve customer protection.

A key ABA recommendation is the introduction of Confirmation of Payee (CoP) – an industry-wide service initiative of Australian Payments Plus that matches the bank account details entered by a payer with the account details held by the recipient’s bank and displays a match outcome to the payer.

Data from the 2024 Mapping Social Cohesion Report shows nearly half of Australians believe most people can be trusted which suggests they may not instinctively have fraud or scams front of mind . CoP creates a pause in the payments process, alerting customers before money moves and helping to safeguard people and businesses from fraud, scams and mistaken payments.
Indue is enabling clients to adopt CoP and strengthen payment security across the board. So how effective is it? And what role does it play in the evolving payments landscape?

We spoke with Indue’s Head of Innovation & Strategic Initiatives, Jenny Osborne to find out.

Why is CoP such a significant step forward for payment security in Australia?
Scammers often rely on urgency and quick decisions to trick people, so CoP creates a pause in the digital payments process to encourage people to stop and think, before they are caught off guard.

It puts customers in the driver’s seat, helping them make more informed choices before the transaction is complete and it may be too late. It also offers confirmation to ease doubts when something doesn’t add up.

Tools like CoP provide an important extra layer of defence for Australians to reduce both scams and mistaken payments.

What does CoP mean for Indue customers?
Under the 2024 Scam-Safe Accord, CoP is set to become an industry-wide standard. For our customers, adopting this technology is about more than compliance; it’s about keeping pace with the latest trends and maintaining parity with the bigger banks.
Scammers are quick to identify gaps in the system and banks that don’t adopt this safeguard may be seen as easy targets.
That’s a real challenge for our clients and we’re working closely with them to make sure they’re protected and prepared.

What does experience with CoP-style technology overseas tell us? And what should Australians be looking out for?
Versions of CoP exist globally across the EU, UK, New Zealand and other countries globally.

One of the most significant changes overseas has been liability. Last year, newly introduced rules from UK Payment Systems Regulator mean both the payer bank and the payee bank now share responsibility if someone is scammed . It’s a strong signal that regulators expect more from financial institutions – and it’s a trend Australia needs to be ready for.

Where does CoP fit in the broader push for safer digital payments? And what’s next?
Scams and fraud have been steadily rising in recent years and CoP is just one of many tools needed to respond.
Scammers often have more time and fewer rules than the organisations trying to stop them, which makes coordinated action across businesses and industries even more important. No one tool will be the saving grace but what’s needed is a combination of tools, regulation and education.

We’re already seeing more obligations passed down through the Treasury, Australian Banking Association and Customer Owned Banking Association, and that pressure is only going to increase.

Payment security is no longer optional but a shared responsibility across our entire digital ecosystem.

Important Information: This article has been prepared by Indue Limited (ABN 97 087 822 464) (Company) and was originally published on 08 July 2025 on www.indue.com.au. Information is current as at the publication date, and the Company has no obligation to update or correct this article. The information contained in this article is of a general nature and is not intended to address the objectives or needs of any particular individual entity and should not be regarded in any manner as advice. To the extent permitted by law, the Company and its related bodies corporate will not be liable for any errors, omissions, defects or misrepresentations in the information in this article or for any loss or damage suffered by persons who use or rely on such information (including for reasons of negligence, negligent misstatement or otherwise). © 2025 Indue Limited

Protecting your Digital Identity

Posted on by Steph Hussey

Financial institutions spare no effort in combating fraud and protecting their customers from scammers, and there are thousands of people working around the clock to protect you and your money.

However, in recent years scammers have realised they are competing with advanced multimillion-dollar fraud detection controls and systems, and therefore the path of least resistance is to trick customers into helping them bypass the fraud controls that are put in place for customer protection.

The truths we must acknowledge:

1. Scammers already have some of your data

There’s an alarming amount of compromised data out there, and scammers are becoming increasingly skilled at exploiting it. The numerous Australian data breaches publicised widely are just the tip of the iceberg.

You can check how many data breaches have involved your details at this website: https://haveibeenpwned.com/ 

2. If you think you are too smart to be scammed, you are a great target!

Scammers, armed with your stolen data, can piece together a comprehensive profile of their targets. That seemingly innocent chat on WhatsApp or a transaction on Facebook Marketplace can be a data-mining expedition. This, in turn, can be exploited to build trust and manipulate people into compliance.

The following are some steps you can take to shield yourself from scams:

  • Stay informed: Learn from the experiences of scam victims, by putting yourself in the victim’s situation and considering how the controls you have in place could have protected you in their situation.
  • Limit personal information sharing: Be cautious about the amount of personal information you share on social media ,and tighten your security settings. The less scammers know about you, the harder it is for them to craft convincing scams.
  • Enable Two-Factor Authentication (2FA): Whenever possible, enable 2FA for your online accounts. This adds an extra layer of security, making it significantly more difficult for scammers to gain access to your accounts.
  • Have strong, unique passwords: Don’t underestimate the importance of strong, unique passwords for each of your online accounts. Consider using a reputable password manager to help you generate and store them securely.

Your data is your digital identity, and safeguarding it is vital. Scammers can use your data to gain trust, manipulate, and exploit vulnerabilities.

By taking steps to protect your data and sharing this knowledge with others, we can collectively defend against data-driven scams and build a safer digital world.

Important Information: This article has been prepared by Indue Limited (ABN 97 087 822 464) (Company) and was originally published on 29 November 2023 on www.indue.com.au. Information is current as at the publication date, and the Company has no obligation to update or correct this article. The information contained in this article is of a general nature and is not intended to address the objectives or needs of any particular individual entity and should not be regarded in any manner as advice. To the extent permitted by law, the Company and its related bodies corporate will not be liable for any errors, omissions, defects or misrepresentations in the information in this article or for any loss or damage suffered by persons who use or rely on such information (including for reasons of negligence, negligent misstatement or otherwise). © 2023 Indue Limited