Payment Nerd library
Tag: scams
Fraud at Agentic Speed: Autonomous Crypto Payments Jumped 522% in Three Months — and the Rulebook Is Racing to Catch Up
AI agents are now moving money on-chain at a pace that broke the old fraud playbook — transactions up 522% in a single quarter. As a new compliance standard lands, Australia is fighting its own fast-moving scam war on the ground.
Banks, Telcos and Tech on the Same Hook: Australia’s Scams Framework Bares Its Teeth
Australia's world-first cross-sector scams law is moving from principle to enforcement — with $50 million penalties, a single dispute-resolution door at AFCA, and a private right for victims to claim compensation. Here is what changed and why it matters.
Scam Losses Are Falling — and Confirmation of Payee Is About to Make Them Fall Faster
Australia's banks are spending $100 million to check the name before your money leaves. Paired with the first sustained drop in scam losses, it marks a turning point in how the country fights payment fraud.
CBA Monitors 80 Million Account Events a Day. Scammers Only Need One
CBA's annual results put unusually concrete numbers on scam prevention. They also show why payment warnings cannot carry the whole burden.
Half a Million Payments Were Abandoned. Confirmation of Payee Is Doing Its Job
One bank saw 500,000 payments abandoned after confirmation-of-payee checks. Friction is not automatically failure when the alternative is an irreversible mistake.