Banks Introduce New Technology and Controls to ‘Shield Australians From Scams’

More intelligence sharing between banks, biometric identity scans, and double checks when you are paying someone new are among the changes

A man walks past a branch of the National Australia Bank (NAB) in Melbourne, Australia, on May 6, 2021. William West/AFP via Getty Images

Banks are planning more double checks when you pay someone new and extra identity checks including biometrics to stop scammers.

These extra checks, which also include intelligence sharing between banks, are designed to “shield Australians from scams.”