17 July 2023
Australians are under attack from scams, part of a worsening global scams scourge, and all sectors need to ramp up the fight against these criminals, including government, law enforcement, banks, telcos, social media, crypto platforms and individuals.
The ABA welcomes the announcement from Optus today to launch ‘Call Stop’, an automated technology to help protect its customers from SMS scams.
Acting on intelligence provided by banks to the Australian Financial Crimes Exchange (AFCX), an independent body built and funded by Australian banks, this will help to stamp out ‘call back scams’ where customers call a fraudulent number when prompted by a scam SMS or email.
ABA Deputy CEO Vanessa Beggs said the announcement from Optus shows why Australia needs telcos, digital platforms and banks to work together to disrupt – and stamp out – scams.
“With most scams starting with a SMS or phone call, this approach highlights why we need telcos to take down these scam numbers so they can’t be used to trick more consumers,” Ms Beggs said.
“ABA will work with its members to contribute to this initiative and encourages others in the telecommunication industry to also take part.”
Read the full announcement from Optus here.
Latest news
Sarah Macdonald (Host): Have you had a call from your bank to check you’re okay? Did you see the Commonwealth Bank in Canberra yesterday appearing and executives saying it is taking down 50 fake Commonwealth Bank websites a week, 50 a week. As you know, Australians are losing a lot of money to scams, $3… Read more »
The ABA is reminding customers to remain vigilant to the tell-tale signs of scammers as Australian banks continue to ramp-up protections to help keep their money safe. ABA CEO Anna Bligh said this year’s theme ‘share a story, stop a scam’ was an opportunity for all Australians to support each other and fight back against… Read more »
The ABA welcomes the passage of the SMS Sender ID Register legislation as one more weapon in Australia’s arsenal to win the war on scams. ABA CEO Anna Bligh said this new registry will help to disrupt the business models for SMS impersonation scammers and make Australia a harder target for scam activity. “Scammers usually… Read more »