Australia’s Commonwealth Bank (CBA) is intensifying its fight against financial scams and mistaken payments by expanding its innovative NameCheck technology. In collaboration with Bendigo Bank and fraud monitoring company Satori, the pilot program aims to enhance security measures against the rising threat of financial fraud in Australia.
NameCheck, a product of CBA’s commitment to innovation and security, utilizes advanced technology that leverages the bank’s extensive payment data to verify account details. Introduced earlier this year, it has successfully prevented over 10,000 scam payments (totaling over $38m) and significantly reduced mistaken payments by over $100m.
Bendigo Bank will integrate NameCheck into their Up app, while Satori will use it to bolster financial controls for leading Australian brands and government organizations. The extension of this technology showcases its adaptability to diverse financial environments.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}