Forefront Fraud Community

𝗧𝗵𝗲 𝗙𝗿𝗮𝘂𝗱 & 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗿𝗶𝗺𝗲 𝗦𝘂𝗺𝗺𝗶𝘁 𝗩𝗜𝗖 is coming to Melbourne on August 22nd. Join the most established community for fraud and financial crime leaders from various industries across Australia & New Zealand for strategic conversations on fraud & financial crime prevention, monitoring & detection. 🎟 Grab your ticket here: https://lnkd.in/gBcpXFtZ Take a look at the full list of speakers here: Sharon Armstrong, Survivor of a Sophisticated Romance Scam, Author, Motivational Speaker & Advocate for Justice Mia Garlick, Senior Regional Director - Policy, Meta Stephanie Tonkin, CEO, Consumer Action Law Centre Elise M., Head of Financial Crime Control & Fraud, OFX Adrian Efapiano, Head of Fraud, NAB Jane Edwards, CFE, Executive Manager - Fraud Management & Investigations, nbn Radek Stopka, Group Senior Manager AML - Customer Intelligence and Due Dilligence, Crown Resorts Chee Hian Lim, General Manager, Internal Audit & Risk, Jemena Luke Raven, Senior Partner, Financial Crime Compliance, Group Risk Division, Bank of Queensland Chris Aitchison, Chief Technology Officer, Up Bank Tracy Hall, Scam & Intimate Fraud Survivor Thank you to our event partners: Polonious Systems, SAS, Transmit Security, Fortiro, altia #fraud #fraudprevention #frauddetection #financialcrime #fraudintelligence #FraudSummit24 #ForefrontFraudCommunity

📰 Banks across Australia have teamed up with BioCatch to pilot launch an anti-scam initiative focused on minimising fraud in banking payments. To further combat fraudulent activities across Australia’s financial sector, major banks across the region chose BioCatch, an Israel-based digital fraud detection startup, to introduce BioCatch Trust Australia, a pilot of inter-bank, behaviour and device-based, fraud and scams intelligence-sharing network. The service is set to be leveraged to analyse whether the customers of Commonwealth Bank, NAB, ANZ, Westpac, and Suncorp Bank are legitimate or fraudulent. The announcement follows BioCatch’s collaboration with Google Cloud from March 2024, when the two companies joined forces to extend fraud prevention solutions to additional markets, especially emerging ones. Initially focusing on Southeast Asia, the alliance intended to address the scaling threat of financial cybercrime in the region by utilising BioCatch’s advanced fraud detection, scam prevention, and AML solutions. 🗞️ Read more on this below. #fraudprevention #frauddetection #ForefrontFraudCommunity #financialcrime #biocatch

📰 Westpac is ramping up its efforts to protect customers from scams, adding 50 new team members to its fraud and scam operations team and introducing a digital reporting feature for scam, fraud, or mistaken payment reporting directly through its app. These measures come as part of a broader strategy to enhance scam prevention, which has already saved customers $237 million in FY24 through advanced detection technologies. Carolyn McCann, Westpac group executive of customer and corporate services, emphasised the importance of staying ahead of scammers’ tactics. “We are investing heavily in our scam detection and prevention capabilities to help keep our customers safe, though we know scammers keep evolving their tactics, so we encourage customers to be on alert,” McCann said in a media release. McCann said that the new hires and app feature are key elements in Westpac’s approach to tackling scams. She highlighted the need for broader action. “Scam protection is a team sport, and we need other organisations across Australia to play their part,” McCann said. “It’s so important that social media platforms take action to shut scams down at the source.” 🗞 Read more on this below. #fraud #scams #fraudprevention #scamprevention #ForefrontFraudCommunity #frauddetection

🔊 THE FRAUD & FINANCIAL CRIME SUMMIT RETURNS TO SYDNEY IN 2025!! Join the most established community of fraud and financial crime leaders from various industries across A/NZ for strategic discussions on prevention, detection, response and reporting. 🎫 Grab your ticket and check out the agenda here: https://lnkd.in/gWfi6i-3 (availability is limited). We are pleased to introduce our amazing speakers: James Roberts, General Manager - Group Fraud Managment Services, Commonwealth Bank Tony McClement, Head of Group Security & Investigations, Woolworths Paul Jevtovic APM OAM, Chief Financial Crime Risk & Group MLRO, NAB Jayde Richmond, General Manager, National Anti-Scam Centre John Ford, Deputy Commissioner, ATO Shane Burnett, Senior Solutions Architect, SAS Catherine Ellis, Executive Director - Risk, Strategy & Customer Support, Service NSW Tim M., Head of Global Investigations APAC, Uber Marc Fogg, Head of Investigations & Whistleblowing, The Lottery Corporation Amelia Limbrick, Customer Security and Investigations Manager, TPG Telecom  Yogesh Kulkarni, GM - Financial Crime, Regulatory Compliance, Privacy & Fraud Risk Audit, Commonwealth Bank Richard Storey, General Manager - Risk & Compliance, Group AMLCO, Tabcorp Amber King, Global Financial Crime - Executive Director, Morgan Stanley Ritu Bhandari, General Manager - Financial Crime, The Star Entertainment Group  Sharon Armstrong, Survivor of a Sophisticated Romance Scam, Author, Motivational Speaker & Advocate for Justice #FraudSummit25 #FinancialCrime #financialcrimeconference #financialcrimeevent #fraudAPAC #ForefrontFraudCommunity

Google are announcing a new partnership with the Global Anti-Scam Alliance (GASA) Alliance (GASA) and DNS Research Federation (DNSRF) to launch the Global Signal Exchange (GSE). The GSE is a new project with the ambition to be a global clearinghouse for online scams and fraud bad actor signals, with Google becoming its first Founding Member. This collaboration leverages the strengths of each partner: GASA's extensive network of stakeholders, the DNS Research Federation's robust data platform with already over 40 million signals, and Google's experience in combating scams and fraud. By joining forces and establishing a centralised platform, GSE aims to improve the exchange of abuse signals, enabling faster identification and disruption of fraudulent activities across various sectors, platforms and services. The goal is to create a user-friendly, efficient solution that operates at an internet-scale, and is accessible to qualifying organisations, with GASA and the DNS Research Federation managing access. The GSE seeks to address the complex issue of online fraud and scams signal sharing. We have had a long history of partnering with Priority Flaggers around the world to take in scam signals. In this initial pilot of the data platform, Google was for the first time able to share over 100,000 URLs of bad Shopping merchants and as part of the same test, ingest 1 million scam signals. We'll start by sharing URLs that we have actioned under our scams policies, and as we gain experience from the pilot, we will look to add data soon from other relevant Google product areas. 🗞 Read more on this below. #fraud #scams #fraudprevention #frauddetection #fraudaustralia

📰 If you've ever wondered how scammers time their fake Australia Post texts to land just as you are expecting a parcel, the online ad industry might be to blame. As David Niven learned in November 2022, timing is everything when it comes to an effective scam. "My phone pinged and there was a text message … it said, "Your E-Tag didn't work, you have an outstanding toll … hit the following link to avoid getting a fine'," he recalled. Millions of Australians have likely received a similar message in recent years, but the timing was uncanny for Mr Niven. "I had travelled on a CityLink toll road within about a week or so of that date … in fact, my E-Tag hadn't beeped properly," the 66-year-old Melbourne resident said. '"That particular trip was the first time we travelled on CityLink for three to four years. "So, I was half expecting to get a contact from CityLink to say there was something wrong." Mr Niven may be more suspicious than most, having worked as a consumer rights lawyer for almost 40 years. 🗞 Read more below. #Fraudaustralia #fraudnews #fraudprevention #forefrontfraudcommunity #scams

Commonwealth Bank has launched an Australia-first fraud detection tool that allows customers of any bank to stop fraudsters in their tracks. Thousands of Aussies have fallen victim to identity theft and it’s an issue costing the country upwards of $1.6 billion a year. Launched by CBA’s tech ventures division x15ventures, the Truyu app allows Aussies to get real-time alerts when their identity documents are stolen or exposed in data breaches. Sydney mum Alicia Reardon told Yahoo Finance she was able to stop fraudsters from using her identity after she received an app alert that someone was trying to open up an account in her name for a company she had never heard of. 🗞 Read more on this below. #fraudprevention #frauddetection #fraudaustralia #forefrontfraudcommunity

What an incredible day at the Fraud & Financial Crime Summit in Melbourne! A huge THANK YOU to all our speakers, sponsors, and delegates who made this event a remarkable success. Your insights, expertise, and contributions were invaluable in making this summit such a rich and engaging experience. From thought-provoking presentations to deep-dive discussions, we tackled critical issues and explored innovative solutions in the fight against fraud and financial crime. Your participation not only enhanced the dialogue but also inspired action and collaboration within our industry. We’re grateful for the opportunity to connect with so many passionate professionals and look forward to continuing these important conversations. Here’s to driving positive change together! 🙌 #FraudSummit #FinancialCrime #ThankYou #IndustryInsights #Collaboration

📰 The federal government is promising to change the law to force banks to compensate Australian customers who are tricked into transferring money to scammers, accusing them of doing too little to prevent people from being duped out of more than $2bn every year. The assistant treasurer, Stephen Jones, will tell the National Press Club on Wednesday that a government crackdown on scammers is having some success but that the corporate bystanders in the scam equation – the platforms that facilitate scammers’ contact and enable their financial transactions – should be doing more to stop them. 🗞 Read more below. #fraud #fraudprevention #financialcrime #forefrontfraudcommunity

📰 A family who were caught up in a sinister scam involving three of Australia’s big banks have described the situation as “sickening” as they lost a staggering $1.1 million. Cyndy, who asked not to share her surname, said her “typical boomer” parents sold their Sydney home of 30 years making a million dollar profit. Cyndy’s dad did his due diligence – checking details with the banking regulator, searching ASIC records, checking employee names on LinkedIn and he even showed the investment documentation to the branch manager of his own bank. He had transferred amounts of $800,000 and $300,000 to one of the big four and another lot of $300,000 – and despite a fraud alert freezing his account for this transaction, it later went ahead. The family reported the incident to the police and Cyndy said they were shocked what was uncovered with banks failing to properly check identification when bank accounts were opened. One of the scammer bank accounts was opened via a photocopy of an expired foreign passport, she said police told her. 🗞 Read more on this below. #fraud #fraudprevention #frauddetection #forefrontfraudcommunity