CommBank and Telstra expand their anti-fraud plan to protect seniors
The telco and the big four banks have announced that their Scam Indicator technology has been expanded to protect customers on landlines.
Telstra and the Commonwealth Bank of Australia have announced an expansion of the pair’s Scam Indicator technology, which will add a new layer of protection against scams, especially for seniors – it now covers landline connections.
The service, launched in October 2023, previously only covered mobile phones; However, Telstra research shows that 85 per cent of all landlines are registered to a group particularly vulnerable to scams: people aged 60 and over.
According to CommBank’s general manager of group fraud, James Roberts, brazen fraudsters often take advantage of phone calls to put pressure on their victims.
“Scammers are often bold enough to pick up the phone and speak directly to unsuspecting victims. “They create a sense of urgency and use phishing tactics to trick their target into downloading software that gives them remote access to their victim’s computer,” Roberts said in a statement.
“Working together with Telstra is a good example of the power of collaboration, using data and technology for good with security and privacy at the forefront. We know that together we are stronger against fraudsters when we take an ecosystem-wide approach: banks, social networks, telcos, government and also consumers all have a role to play.”
Telstra CEO Sandy Cameron praised CommBank’s collaboration on the project.
“Protecting Australians from scams is a team sport, and Scam Indicator is a powerful example of how we are stronger when we work together to help protect our customers from scammers,” Cameron said.
“Landlines remain an essential service for many Australians, but they can also be a target for opportunistic scammers who take advantage of people’s trust and goodwill. Expanding the scam indicator to cover landlines means we can help protect those in our community who are most vulnerable to being targeted by cybercriminals.”
Roberts also provided an example of the scam indicator in action.
“Our teams recently used this technology to help prevent an elderly customer from being scammed when she spoke to a scammer on her landline,” Roberts said.
“The scammer had convinced the customer to download software that would give him full access to his computer and banking information. “Scam Indicator technology allowed us to monitor the customer’s banking activity and reject around $70,000 in fraudulent transaction attempts, so the money did not end up leaving the customer’s account.”
