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Digital ID will better protect Australians from cybercrime and scammers  

Digital ID will better protect Australians from cybercrime and scammers  

28 March 2024

The Australian Banking Association (ABA) welcomes legislation passing through the Senate to expand Australia’s digital identity system.  

Importantly, this legislation will allow banks to apply to join the nationwide framework within two years of commencement. 

ABA CEO Anna Bligh said a voluntary nationwide Digital ID would be another important tool for banks to help protect the privacy of Australians and their data.  

“This will be another layer of protection available to Australians in situations where they verify their identity online, including when they are interacting with a bank,” Ms Bligh said.  

“For those Australians who wish to use a Digital ID, they will have the potential to conveniently and safely open a bank account within seconds. 

“More secure and efficient identity verification will also enable banks to prevent identity fraud and theft, protect individuals from scams and reduce other cybersecurity risks. 

“When utilised, Digital ID will mean Australian companies won’t need to store as much, if any personal information, reducing the oversharing of personal data throughout the economy, reducing risk for Australians.  

“Digital ID will also be another important weapon in the fight against scammers. It will make it more difficult for scammers to open false banks accounts with stolen or fake ID documents. 

“It’s use by banks will also build on the work already underway across the industry to harden protections against scams through the new Scam-Safe Accord.”  


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