CommBank and Telstra have announced an expansion of their Scam Indicator technology to now include landlines, enhancing the detection of suspicious calls in real time and helping prevent financial losses due to scams.
Initially launched for mobile phones in October 2023, this technology was developed in partnership with Quantium Telstra to protect both Telstra and CommBank customers. Recent data reveals that over 85% of residential landline services in Australia are registered to individuals over 60 years old. Furthermore, National Anti-Scam Centre data highlights that people over 65 experienced the highest losses to scammers in 2023 and were the only age group not to see a reduction in reported losses. Phone calls emerged as the top scam method, and this demographic also led scam reporting in early 2024.
Quantium Telstra CEO Sandy Cameron praised the collaboration, stating, “Protecting Australians from scams requires teamwork, and Scam Indicator exemplifies the benefits of working together. With many Australians still relying on landlines, extending Scam Indicator to these calls helps safeguard those most vulnerable to fraud.”
The Scam Indicator technology assesses whether a call might be a scam by analyzing real-time data from customers’ landlines. CommBank’s fraud team can then take immediate action, including blocking transactions and sending alerts via the CommBank app or NetBank, to prevent potential losses.
CommBank’s General Manager of Group Fraud, James Roberts, shared a recent success story: “Our technology recently helped prevent a significant scam. An elderly customer was tricked into downloading software that allowed scammers to access her computer. Scam Indicator enabled us to monitor and block approximately $70,000 in fraudulent transactions, preventing any loss.”
Since its launch, Scam Indicator has been instrumental in protecting millions of dollars from scams for joint CommBank and Telstra customers. The addition of landline coverage increases potential protection by 25%, underscoring the commitment of both companies to combatting fraud.
Roberts emphasized the importance of collaboration, saying, “CommBank and Telstra are dedicated to enhancing customer safety and partnering with others in the ecosystem. This collaboration demonstrates the effectiveness of a unified approach involving banks, telcos, social media, government, and consumers.”
This expansion is a significant step in protecting more Australians from scams and highlights the ongoing efforts to improve detection and prevention measures.
