Bank Transfer Scams

Confirmation of payee name is an idea that has been around for years now but still too little action.

‘People are losing a fortune’: ACCC urges banks to act as scam losses surge

Australian Competition and Consumer Commission deputy chair Delia Rickard singled out banks’ reluctance to adopt safeguards that have been put in place in UK and Europe as a reason why scams continue to proliferate in this country.

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