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PayDay News - Independent Payments News Australia
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Scams & Fraud

AP+ compliance breaches shrouded in secrecy as incident concerns rise

AP+ compliance breaches shrouded in secrecy as incident concerns rise

The financial services sector remains in the dark about who has been found to be in breach of mandatory compliance obligations and ...
Scamwatch warns of fake crypto platform scams

Scamwatch warns of fake crypto platform scams

Scammers are promoting fake crypto asset trading platforms to people who have joined ‘share trading’ or ‘stock tips’ message groups, according to ...
Budget plan to share tax data could reduce mortgage fraud

Budget plan to share tax data could reduce mortgage fraud

Banks and fintechs have applauded plans announced in last week’s budget to explore the potential to extend the Consumer Data Right for ...
No return date for Revolut PayTo as company clams up in wake of $3m social media zombie fraud

No return date for Revolut PayTo as company clams up in wake of $3m social media zombie fraud

When approached by PayDay News this week about a return date for its PayTo service, the response from Revolut was brief: “We ...
Can open banking help tackle Australia’s $82 billion illicit finance problem?

Can open banking help tackle Australia’s $82 billion illicit finance problem?

Some of the best minds in Australian fraud detection and fintech (Apate AI, DoxAI, Ashurst, AFCA, AUSTRAC and AusPayNet among them) gathered ...
Chargeback fraud is real but the problem runs deeper than bad customers

Chargeback fraud is real but the problem runs deeper than bad customers

That this is now reaching mainstream coverage is a good thing and a public petition. What the reporting opens up — and ...
Warning! CBA’s new AI fraud agent tests 80m signals a day

Warning! CBA’s new AI fraud agent tests 80m signals a day

A new AI system launch by CBA is designed to help detect emerging fraud and scam patterns in more than 80 million ...
Meta’s $10B blind spot for illegal tobacco and gangland payments

Meta’s $10B blind spot for illegal tobacco and gangland payments

Criminal syndicates are advertising illegal cigarettes, vapes and tobacco products on Facebook and Instagram right now, complete with payments rails provided by ...
AI driven social media scam surge warning: Westpac

AI driven social media scam surge warning: Westpac

Criminals are weaponising new AI technology to target households and businesses at scale – particularly on social media platforms, according to Westpac. ...
Unplugged Binance fined $10m for exposure

Unplugged Binance fined $10m for exposure

Embattled crypto outfit Binance Australia has been ordered to pay a $10 million pecuniary penalty after misclassifying more than 85% of its ...
The settlement infrastructure that triggered the fake home loans scandal is AML-free

The settlement infrastructure that triggered the fake home loans scandal is AML-free

The $1 billion plus mortgage fraud scandal that began at the Commonwealth Bank (CBA) and has now enveloped the whole system, has ...
Leaked list reveals high risk NPP customers

Leaked list reveals high risk NPP customers

Paytechs such as Airwallex, Zai, Monoova and Azupay connect “high risk” merchants on Australia's New Payments Platform (NPP) via Cuscal, a confidential ...
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AP+ compliance breaches shrouded in secrecy as incident concerns rise

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